A Company is deemed to be unable to pay its debts when:
a creditor, to whom the foreign company is indebted in a sum exceeding INR 100,000 then due, has served on the foreign company a demand in writing, and the foreign company has, for three weeks after such demand, failed to pay the sum or to secure or compound for it to the satisfaction of the creditor;
execution or other process issued on a decree or order of any court or NCLT in favour of a creditor against the foreign company (or any member thereof as such) is returned unsatisfied in whole or in part; or
it is otherwise proved to the satisfaction of NCLT that the foreign company is unable to pay its debts.
Register a Company in India |
Company Registration Procedure |
Company Registration in India
