- If the company has not become indefinite by continuing operations despite the expiration of the term, the company is terminated upon the expiration of the term stipulated in the articles of association.
- When the business purpose is achieved or it becomes impossible to achieve.
- If any termination reason stipulated in the articles of association occurs.
- By a decision of the general assembly taken in accordance with the third and fourth paragraphs of Article 421 of the Turkish Commercial Code (TCC).
- Upon a decision of bankruptcy.
- In other cases stipulated by law.
If the termination is due to a reason other than bankruptcy or a court decision, the termination must be registered and announced by the board of directors in the trade registry.
Disclaimer: The information in this article is provided for general information purposes only. It is not intended for a professional informational purpose specific to a person or institution. Although it is similar to the subject, each business may have different situations due to its own special conditions. For this reason, it is in your best interest to consult an expert before taking any decision that will affect your business based on the information provided in this article. Karen Audit or any of the persons or institutions it is associated with is not responsible for any loss or damage that may arise as a result of the use of the information contained in this document by private or official, real or legal persons, institutions and organizations.
