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PROCESS MEMORANDUM Invitation for bids for auction of Essay Power (Jharkhand) Limited In Liquidation on a going concern basis and / or the assets of Essay Power (Jharkhand) Limited In Liquidation
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01
Gather all necessary documents including financial statements, creditors list, and shareholders agreement.
02
Hold a meeting with shareholders to discuss and approve the liquidation process.
03
Notify creditors and follow legal procedures for repayment.
04
Distribute remaining assets among shareholders as per agreement.
05
File necessary paperwork with the appropriate government authorities.

Who needs in liquidation on a?

01
Businesses that are closing down or restructuring their operations may need to undergo liquidation to distribute assets and settle debts.
02
Shareholders and creditors of a company may also need liquidation to ensure fair distribution of assets and repayment of debts.
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In liquidation, all assets of a company are sold off and the proceeds are used to pay off its debts.
The directors or shareholders of a company are usually required to file for liquidation.
To fill out in liquidation, a formal application must be made to the relevant authorities outlining the reasons for liquidation.
The purpose of in liquidation is to wind up the affairs of a company that is insolvent or unable to pay its debts.
Information such as the company's financial records, creditors, and assets must be reported in liquidation.
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