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Summary checklist to know whether a company has become sick.
Summary checklist to know whether a company has become sick.
Hey everybody, i know you are following my updates and articles regularly. Thanks for having faith in me. As you have read previous updates on sick company. I thought it will be a cool idea if we could all revise the preceding details with the help of a summarised checklist. I am gong to share a checklist if all symptoms mentioned therein holds true for you company then your company might have gotten sick.
So let’s start-
- Whether creditor(s) have demanded a payment from you in writing.
- Whether the payment demanded is 50% or more of your total liabilities.
- Whether you have failed to pay them within 30 days.
- Whether the creditors have made an application to the tribunal for determination of sickness of your company.
- Whether
- The Central Government or
- The Reserve Bank of India or
- A State Government or
- A public financial institution or
- A State level institution or
- A scheduled bank ,
may if it has sufficient reasons to believe that any company has become a sick company, make a reference in respect of such company to the Tribunal for determination of the measures which may be adopted with respect to such company.
If the symptoms from 1 to 4 holds good then we regret to inform you that your company has become sick.
Once you know that the company has become sick then read our previous articles for measures that you can take or that will be taken against you.
For any further queries doubts please feel free to reach us here at the comments down below or at our queromon section at our website.
