You are viewing the translated version of परिभाषा परिभाषा.
Section 2
Definition Definition
: In this Act, unless the subject or context requires otherwise,–
(a) "Company" shall mean a company established in accordance with the prevailing company law and the term shall also refer to other limited liability organizations as prescribed by the Government of Nepal by publishing a notice in the Nepal Gazette.
(b) "Insolvent" means a situation in which the amount of the company's liabilities exceeds the value of the assets, which is due to be paid to the creditor or in which any or all of the debts to be paid in the future cannot be paid or it appears that the company is unable to pay them.
(c) "Financial difficulty" shall mean a situation in which the company is or may be in liquidation immediately or in the near future if it is not restructured in accordance with this Act.
(d) "Dismissal of the company" means the state where the registration of the company has been canceled after completing the process according to this Act.
(e) "Restructuring" shall mean the process to be adopted in accordance with this Act to restructure a company which may fall into bankruptcy due to financial difficulties.
(f) "Restructuring program" means the restructuring program as provided in paragraph-4.
(g) "Court" shall mean the commercial bench of the court designated by the Government of Nepal in consultation with the Supreme Court and published in the Nepal Gazette.
(h) "Debt" means a fixed sum of money due or claimed to be due immediately.
(i) "Creditor" means a person who has the right to receive payment from a company that is or may be in bankruptcy and the term also refers to a secured creditor.
(j) "Security" means any or all property held as a pledge of debt or any other type of security.
(k) "Secured creditor" means a secured creditor who lends money to the company.
(l) "Dismissal company" means a situation where an order has been issued for the dissolution of a company in accordance with this Act.
(d) "Office" means the Damasahi P. established in accordance with section 65Administrative office should be mentioned.
(l) "Damasahi-related businessperson" means a person who has received a license in accordance with Section 64 to conduct a business related to Damasahi.
(n) "Investigating Officer" shall mean the investigating officer appointed under section 10.
(t) "Restructuring Manager" means a person appointed by the order of the court in accordance with sub-section (2) of section 22 to operate and manage the restructuring program of the company.
(h) "Liquidator" means a person appointed according to the order of the court or the resolution passed by the meeting of creditors to take action to liquidate the company and the word also refers to the office.
(d) "affiliated person" shall mean a director, officer, shareholder of a company under Damasahi or a director, officer or shareholder of a parent company or subsidiary company of such company and the term shall mean the husband of a director, officer or shareholder of that company or parent company or subsidiary company of such company , refers to wife, son, daughter, adopted son, adopted daughter, father, mother, stepmother, brother, brother, elder sister.
(d) "Prescribed" or "as prescribed" means prescribed or prescribed in the rules made under this Act.
(a) "Company" shall mean a company established in accordance with the prevailing company law and the term shall also refer to other limited liability organizations as prescribed by the Government of Nepal by publishing a notice in the Nepal Gazette.
(b) "Insolvent" means a situation in which the amount of the company's liabilities exceeds the value of the assets, which is due to be paid to the creditor or in which any or all of the debts to be paid in the future cannot be paid or it appears that the company is unable to pay them.
(c) "Financial difficulty" shall mean a situation in which the company is or may be in liquidation immediately or in the near future if it is not restructured in accordance with this Act.
(d) "Dismissal of the company" means the state where the registration of the company has been canceled after completing the process according to this Act.
(e) "Restructuring" shall mean the process to be adopted in accordance with this Act to restructure a company which may fall into bankruptcy due to financial difficulties.
(f) "Restructuring program" means the restructuring program as provided in paragraph-4.
(g) "Court" shall mean the commercial bench of the court designated by the Government of Nepal in consultation with the Supreme Court and published in the Nepal Gazette.
(h) "Debt" means a fixed sum of money due or claimed to be due immediately.
(i) "Creditor" means a person who has the right to receive payment from a company that is or may be in bankruptcy and the term also refers to a secured creditor.
(j) "Security" means any or all property held as a pledge of debt or any other type of security.
(k) "Secured creditor" means a secured creditor who lends money to the company.
(l) "Dismissal company" means a situation where an order has been issued for the dissolution of a company in accordance with this Act.
(d) "Office" means the Damasahi P. established in accordance with section 65Administrative office should be mentioned.
(l) "Damasahi-related businessperson" means a person who has received a license in accordance with Section 64 to conduct a business related to Damasahi.
(n) "Investigating Officer" shall mean the investigating officer appointed under section 10.
(t) "Restructuring Manager" means a person appointed by the order of the court in accordance with sub-section (2) of section 22 to operate and manage the restructuring program of the company.
(h) "Liquidator" means a person appointed according to the order of the court or the resolution passed by the meeting of creditors to take action to liquidate the company and the word also refers to the office.
(d) "affiliated person" shall mean a director, officer, shareholder of a company under Damasahi or a director, officer or shareholder of a parent company or subsidiary company of such company and the term shall mean the husband of a director, officer or shareholder of that company or parent company or subsidiary company of such company , refers to wife, son, daughter, adopted son, adopted daughter, father, mother, stepmother, brother, brother, elder sister.
(d) "Prescribed" or "as prescribed" means prescribed or prescribed in the rules made under this Act.