CS Professional · Insolvency and Bankruptcy - Law and Practice · Voluntary Liquidation of Companies
Under the Voluntary Liquidation Process Regulations, Orbit Pharma Ltd has its registered office in Hyderabad, a principal office in Pune, and a factory in Vadodara that the liquidator considers a material business location. The company has a website. Which publication requirement for the public announcement is correct?
The announcement must appear in one English and one regional language newspaper with wide circulation at Hyderabad, Pune and Vadodara, and also on the company's website and the Board-designated website. Regulation 14(3) covers the registered and principal offices and any location the liquidator considers to have material operations.
- AOne English newspaper at Hyderabad only, plus the Board's website
- BOne English and one regional language newspaper at Hyderabad and Pune only, plus the company website
- COne English and one regional language newspaper with wide circulation at Hyderabad, Pune and Vadodara, plus the company's website and the Board-designated websiteCorrect
- DOnly the Board-designated website, because the company is under voluntary liquidation
Explanation
Regulation 14(3) requires publication in one English and one regional language newspaper at the registered office, the principal office and any other location where the liquidator thinks material operations are conducted. It also requires the company's website, if any, and the Board-designated website. Vadodara therefore cannot be skipped.
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