Close Private Limited Company

A tedious but necessary process, enlist our help to reduce your headache.

Close Private Limited Company - An Overview

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!

Registration Process OF - Close Private Limited Company

Upon signing up for our Company Closing service, our business experts review the activities of your company and determine the documents required for commencing the winding up.
After successfully going through a consultation, our team shall prepare an advisory helping you with the necessary steps and draft the necessary paperwork.
Once the required documentation is compiled, our legal team would file the same with the ROC.

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

Frequently Asked Questions

What is it considered when an organization closes?

The closure is the term used to allude to the activities vital when it is never again essential or feasible for a business or other association to keep on working. On the off chance that an association has obligations that can’t be paid, it might be important to play out a liquidation of its properties and assets.

Can you temporarily shut down a business?

Entrepreneurs can set their working timetable in whatever way they pick. The special case is the point at which a business is under a legally binding commitment to offer a specific item or administration to a client at a given time. For instance, if you possess a photography studio and consent to a conventional arrangement to take wedding party photos on a specific day and time, you are legally committed to be available to play out those administrations. Regardless of whether you don’t have a formal composed understanding set up, an entrepreneur who is questionable in finishing on verbal understandings isn’t probably going to get great informal input from clients, which can negatively affect the business. Impermanent shutting ought to be reported ahead of time, whenever the situation allows, to guarantee that clients know about the shutdown.

Would I be able to utilize a dormant business name?

If the organization is dormant, you will most likely be unable to utilize its name. On the off chance that the organization is recorded as closed down, the name might be accessible for your utilization. Note that it’s normal for a state to have a holding up period before the name of an organization that is dormant or disintegrated can be utilized by another business or company. The organization has a chance to reactivate their business inside that time period, so you may need to trust that the name will open up, regardless of whether it isn’t being utilized.