Private Limited Company Closure


Private Limited Company Closure

Even if closing a private company is a hard deal, a loss making company needs to be restructured or closed. If restructuring is not a good option, then closing it down reduces legal and compliance cost, rent or any other out of pocket costs. Closing a company which is falling apart reduces the risk of losing the invested assets. There is no sense at all in running the loss-making Private enterprise just for compliance sake.

Through Fast-track Exit Mode, a Company can easily shut down its business. Closure of the company is done voluntarily through the fast track exit scheme.

On the other hand, Winding up is forced by a court order and dissolution is initiated by a court after expiry of time period or after company’s mission is accomplished.

Process

  • Review by business experts to find if the Private Company eligible for an exit.
  • All requisite Fast Track Exit documents are prepared in 10-12 working days by our experts.
  • The e-form STK-2 will be filed with MCA
  • The Registrar will issue public notice
  • The Registrar will strike off the name of the Company from the Register and shall publish it in Official Gazette.

Documents

  1. Statement of accounts reflecting zero assets and liability expect share capital and Profit and Loss Debit balance
  2. Indemnity Bond
  3. Affidavits
  4. Copy of Board and Shareholders’ Resolution

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