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My company that I incorporated for charitable purposes is being wound down. If there is any surplus left after settling all debts of the company, will it be distributed amongst the members of the company? Please advise

No, the surplus will not be distributed amongst the members of the company. As per Section 8(9) of Companies Act, 2013, any asset remaining after satisfaction of the debts will be transferred to another company registered under Section 8 of the Companies Act, 2013 having similar objects, subject to such conditions as the NCLT may impose, or the same m...


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