Close Private Limited Company
A tedious but necessary process, enlist our help to reduce your headache.
Introduction
Since a company has its own separate existence, meeting regulatory compliances and existing apart from its directors and shareholders, it also has its own method of ceasing to exist, rather than an inoperative company simply ceasing to exist. Such voluntary winding up may be initiated by any shareholder, and in case the motion passes, outstanding dues must be first paid out to secured/unsecured creditors as well as employees on the payroll. Once such dues are settled, the bank accounts of the company must be closed, and it must surrender any official registrations it may hold. Any overdue compliance must also be met before an application petition for winding up can be submitted to the ROC.
Requirements for winding down a company are tedious procedural steps, so leave the work of figuring them out to our experts by signing up for our Company Closing service today, so that you can focus on life ahead of your earlier Company!
Why Close your Company?
Companies are generally closed for the following reasons –
- Officially closed companies are no longer bound to maintain regulatory compliances.
- A closed company no longer incurs any fines or penalty, and cannot cause a debarment of directors from moving forward and starting a new company or LLP.
- Closing is a simple procedure for inoperative companies and a required step in order to extinguish any liabilities.
Documents required for Close Private Limited Company
- Board meeting Resolution
- Notice of EGM
- Special Resolution in EGM
- Notice to Registrar for the appointment of Liquidator
- Notice in Official Gazette
- Advertisement in newspaper
- Filing of statement of affairs
- Filing of form MGT 14
