Development of Corporate Insolvency Resolution Process

Abstract

As per the traditional company law, a company never dies or ceases to exist unless and until the task for which it was formed has been completed or it is specifically wound up through the procedures. Membership and executives of a company may keep on changing from time to time but that in any way does not affect life of the company. A Company, having no mind of its own, always acts through its stakeholders, each having a unique objective function, with different set of rights, interests depending on the level of engagement with the company. Anyway, the insolvency of a particular member does not affect the existence of a company.