Definition of defunct company as per companies act 2013
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Defunct, in a business context, refers to the condition of a company, whether publicly traded or private, that has gone bankrupt and ceased to exist. In general, "defunct" refers to something that is no longer existing, functioning, or in use. It may be used to describe laws and regulations, businesses, organizations, currencies, brands, practices and more. According to the Securities and Exchange Commission (SEC), the shares of a defunct company may continue to be traded until the company has the shares re-registered or until the stock's registration has been revoked.
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