DISSOLVING A COMPANY | JasonMelans | Kiwibox Community

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05/07/14 1:46 pm
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DISSOLVING A COMPANY
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JasonMelans , 29
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CHERYL BELL
VARIOUS REASONS INVOLVED IN DISSOLVING A COMPANY
Dissolving a company is the authorized termination of a company. In other words,
we can say that the dissolving a company is the act of terminating the existence of
the company. A company is dissolved when a Certificate is issued by the
Corporation world. Everything will be mentioned in the Certificate of Dissolution.
The company can apply for dissolving a company when it has no assets or liabilities
remains with it. This generally happens due to the lack of business creativity idea
in the firm.
Many companies now a day facing a financial trouble these days. This all happens
due to the lack of productivity or we can say that the product the company is
producing is not up-to-date which can hit the market. Many companies borrow
money from creditors for the productivity, but these products are unable to meet
the basic requirement of the buyers which will lead the company in loss if the
buyer won’t purchase it.
On the other hand the creditors may demand of the money at any time from the
firm, which will make the company in the financial trouble. Due to such condition
the companies are being attacked by the financial trouble. If the companies go in
such financial trouble then the share of the companies will gradually decline.
The market price of the company will become less. Many big companies like
Kingfisher, Indian Airlines faces such problems. If companies face such problem,
then there will not be good news for the employees. There will be redundancy in
the wages of the employees or even they may be fired from the company. There
are lots of disadvantages if the companies go into the financial problem. In such
situation if any advice or suggestion did not work for the company then the
Director of the company is left only with the one option, to dissolve the company.
Dissolving a company will be the only way left to clear all the debts to its creditors
and the shareholder.
Company like Nokia is being dissolved and it is merging with Microsoft. Nokia was
once the leading company in the manufacturing of the mobile in the world, but
recently the production by this company was unable to fulfill the desire of his
consumer.
There comes a wickedest moment for every corporate company where their
productivity is unable to fulfill the basic need which is being required by its
consumer. So this type of trouble leads the company to dissolve. Nokia now sold
his entire share to the Microsoft. Now Microsoft is going to launch the headset in
the name of Nokia.
If the company has shareholder, but there are no assets or liabilities, then the
shareholder can approve the dissolving a company by some other special
resolution. Or if the company has more than one shareholder then either the
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consumer. So this type of trouble leads the company to dissolve. Nokia now sold
his entire share to the Microsoft. Now Microsoft is going to launch the headset in
the name of Nokia.
If the company has shareholder, but there are no assets or liabilities, then the
shareholder can approve the dissolving a company by some other special
resolution. Or if the company has more than one shareholder then either the
dissolution process takes place through voting or they may compromise on certain
resolution for the dissolution of the company. And if the company does not have
any shareholder then the Directors of the company may take the resolution to
authorize for dissolving a company.
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