Company Closure in Vadapalani - Filingpoint


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A Filingpoint Company Closure in Vadapalani is the process of shutting down a business or ceasing operations. It requires adherence to various legal and regulatory requirements. Failure to comply with these requirements can result in costly penalties or lawsuits. It can also damage the reputation of the business and negatively impact future business opportunities or relationships.

The Madras high court on Wednesday warned the commissioner of Chennai Corporation that he would be called to appear before the court, if he does not remove the locks and seals on shops that were sealed by the Corporation without following the proper procedures. The court passed the direction on a batch of writ petitions filed by vendors who were evicted from their shops in Palani Andavar Koil Street, Vadapalani.

Six months after Taiwanese company Foxconn shut down its plant in Chennai, the issue has resurfaced in Tamil Nadu Assembly with CPI(M) legislators alleging that companies do not give workers their basic rights like the right to form trade unions when they get state concessions to start their ventures. Industries Minister P Thangamani denied the allegation that such a thing was happening and said that the concessions were given with the objective of promoting growth.

The liquidation of a company can be a complex and lengthy process. It includes appointing a liquidator, preparing and filing a statement of affairs, publishing an advertisement in the newspaper, and obtaining a certificate of dissolution. It can be an advantage for creditors because it terminates any lease agreements and cancels any outstanding debts. Creditors can then receive the remaining value of the company's assets.

Contact Our Filingpoint team Company Closure expert +91 72999 72500

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