Consequences Of Two Jobs At A Time
The efficiency of the employee will reduce as he may be too tired by handling two jobs at the same time.Man is not machine
The second job may interfere/clash etc with the first job .
There may be issues of breach of confidentiality.
Various issues as Fatigue, poor attentiveness etc may arise.
In your case since company is defunct and non functional should not create an issue.
However it would be advisable to see what exactly your appointment letter says.
Many companies include that working for any other organisations is unauthorised during current employment.
6th February 2019 From India, Pune