Liquidation started in the Doon Office of Corporate Ministry
The assets of Haldwani’s water pack company will be auctioned
17 long-standing companies in the state have gone bankrupt. The Corporate Office in Doon has completed the insolvency process. The assets of one of these companies are being auctioned.
The Office of the Registrar and Government Closing Office of the Ministry of Corporate Affairs in Dehradun has taken forward the action of the bankrupt companies. The assets of these companies have been attached. After attaching the assets of the much older Haldwani-based water pack company, the department has started auctioning to eliminate debtors’ liability.
Auction of assets of the remaining 17 companies also soon
Auction of assets of the remaining 17 companies will also begin soon. The special thing is that most of these are companies whose assets were worth crores of rupees, but over time their work stopped.
There are some companies which have closed due to disputes. Such companies are constantly being investigated by the Registrar and the Government Closing Office.
Idle companies getting ready on the line
At present 7866 companies are registered in the office of the Registrar and Government Closing Office of the Ministry of Corporate Affairs, Dehradun. Of these only 5393 companies are active while 2473 companies are inactive. Now the investigation of these companies has been intensified by the department. Action can also be taken soon.
17 companies undergoing liquidation process have been declared insolvent in the state. The process of auctioning the assets of these companies is being done so that the liabilities of the debtors can be eliminated.
– BK Kane, Registrar of Companies cum Official Liquidator