No, a company name that has been dissolved cannot be registered. A company’s name becomes accessible for registration by others after it is dissolved. You must resurrect the disbanded corporation if you want to keep using the same name.
Employees of a firm who is dissolved will no longer have jobs. However, the business is required to give its workers their final salary, which includes any accrued but unutilized vacation time. Employees may be able to pursue outstanding wages from the Ministry of Labor if the business is unable to pay them. When a firm dissolves, what happens to the directors?
Following a company’s dissolution, its directors lose all power and accountability over it legally. However, if the board of directors acted unfairly or recklessly, they could be held personally accountable for whatever debts the firm has to creditors.
A court or the Registrar of Companies may issue an order dissolving a company. If a firm has been inactive for a long time or has disregarded its legal obligations, the court may issue an order of dissolution. If a business fails to submit its annual report or fails to pay its yearly fees, the Registrar of Companies may issue an order of dissolution.
In conclusion, it is possible to rescind a dissolution request, but only if certain conditions are met. To make sure you completely understand the process and its implications, it is imperative to seek legal counsel if you are thinking about dissolving your business.