(1) If a foreign company registered in accordance with section 154 wishes to have its registration canceled by ceasing its operations within the State of Nepal, or if the authorized officer prohibits such company from carrying out business or transactions within the State of Nepal, according to the prevailing law, such company shall For cancellation of registration, an application should be submitted to the office along with the prescribed fee.
(2) A foreign company making an application in accordance with sub-section (1) shall also submit with the application proof that it has no obligation to pay to any person, organization or governmental or non-governmental body within the State of Nepal.
(3) In order to understand whether the evidence as per sub-section (2) is true or not, the office shall publish a notice at least twice in a national level daily newspaper to submit a claim with evidence, giving a deadline of twenty-one days in relation to whether or not the company has committed to pay any liability to anyone.< br> (4) According to the notice published in accordance with sub-section (3), if someone has a claim, the relevant company shall submit proof of such claim to the office. If the claim against such company as per sub-section (3) cannot be settled from the equity of such company in the state of Nepal, it shall be settled from the equity of such company outside the state of Nepal.
(5) If no claim is received by anyone within the period as per sub-section (3) or if the claim is proved to be false as per sub-section (4), the office shall remove the name of such company from the registration book of the foreign company and give the relevant information to the relevant company.
(6) According to this paragraph, if a foreign company registered in Nepal is conducting business in any country in accordance with the law of any country, if the process of Damasahi is started in relation to such company, the representative of such foreign company authorized in accordance with Section 157 shall immediately give a written notice to the office and such notice shall be published by the State of Nepal for the information of the general public. He should also publish in the national level daily newspaperwill go But if the order to cancel the registration of such company has already been issued, such foreign company will have to close its business or business within the state of Nepal.
(7) In accordance with the restrictive phrase of sub-section (6), if any foreign company closes the transaction or business, it shall be in accordance with the prevailing law regarding Damasahi in relation to the transaction or business conducted by such company within the State of Nepal.