Question

In case of neither the old company is liquidated nor a new company is formed

Answer 1

Explanation:

Restructuring And Liquidation

1. Businesses need efficient and speedy procedures for exit as much as for start-up. World over, insolvency procedures help entrepreneurs close down unviable businesses and start up new ones. This ensures that the human and economic resources of a country are continuously rechannelised to efficient use thereby increasing the overall productivity of the economy.