There are two types of dissolution of a Company under Companies Act 2016, namely striking off and winding up. The process for striking off is fairly straightforward and cost effective where a company is highly advisable to go for this alternative if it is able to meet the requirement of striking off. On the other hand, the winding up process is lengthy and carries a relatively higher cost compared to striking off application. The company only goes to this alternative if it cannot meet the requirement to strike off.
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