You must know that BIS certification is voluntary in nature. However, the Central Government has made obtaining BIS certification compulsory for certain products due to specific considerations, viz. protection of human, plant and animal health, public interest, the safety of environment, national secur...
The court can pass an order for winding up and forcefully shutting down an organization. This is known ascompulsory liquidation. If someone connected to the business files a petition, this action could be done. This could be a director of the company or a creditor awaiting payment. However, ...
Company Limited By Guarantee Means a company having the liability of its members limited by memorandum to such amounts as the members may respectively undertake to contribute to the capital of the company in the event of its winding up. A company limited by guarantee is usually formed on...
In this type of situation it is usually understood that the business and the lender are ending their relationship and both parties move quickly to tie up loose ends and avoid dragging the situation out. During a winding down liquidation, the business continues to operate while working with the ...
Company accounts are essential for understanding a company's financial health and performance. Key components include the balance sheet, income statement, and cash flow statement, each serving a specific purpose. The balance sheet offers a snapshot of as