Reconstruction Company - Definition - Law Dictionary Home Dictionary Definition reconstruction-company

Definition :

Reconstruction company, means a company formed and registered under the Companies Act, 1956 (1 of 1956) for the purpose of asset reconstruction. [Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (54 of 2002), s. 2(1)(v)]

Reconstruction of a company, upon a voluntary winding-up the company may sell its undertaking for property of (including profits in) the purchas-ing company; see Companies Act, 1929, s. 234.