DISSOLVE A PRIVATE LIMITED COMPANY

Legal Terminus can help you with the Process of Winding Up of a Company in a hassle-free manner within a reasonable time span and competitive Professional fee which starts from Rs. 18999/-

Starts at ₹ 20000

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FAQ

Frequently asked questions about dissolve a private limited company

Once a company has been incorporated, it is legally obligated to adhere to various applicable compliances. Non-compliance thereof may entail serious consequences, such as hefty penalties, initiation of legal proceedings, and directors getting disqualified from becoming directors in any other company. Accordingly, in an event where a company neither has any ongoing business/ operations nor is expected to operate in the foreseeable future, it is advisable to legally close such a company. Such legal closure of a company is also referred to as winding-up or strike off of a company. Certain relevant queries in connection with the same have been dealt with below.

1. What are the advantages of winding up of a non-operational company?

- The company becomes exempted from undertaking various applicable and onerous compliance.
- The company and its directors may avoid hefty penalties arising due to various non-compliance.

2. What are certain pre-conditions for filing application for winding up a company?

Completion of all pending compliance
Disposing off all assets and settling all liabilities
Nil transaction in company’s bank account(s)for at least three months

3. What are some key/ basic documents required for strike off a Company?

Consent letter from all shareholders and directors
Affidavit from all the directors
Indemnity bond from all directors
PAN card of Company
PAN card of all the directors.
Aadhar card of all the directors
Special resolution passed by the company for the winding up
Application to ROC for winding up
Statement of asset and liabilities duly certified by the Chartered Accountant
Latest Income tax return filed by the company
Closure letter of all the Bank accounts operated by the Company.
All the registration Certificates obtained

4. What is the procedure to winding up a Company voluntarily?

Convene a Board meeting and pass a resolution for winding up a company
Issue a notice for calling General Meeting to take the approval of shareholders of the company
In General meeting pass a special resolution for winding up
Take the NOC from the creditor of the company
File the application along with the respective documents as mentioned above to the registrar of companies
Appropriate Government fees is payable depending upon the authorized capital of the company.

5. What is the time period within which the process of winding up can be completed?

The time period required for winding up of Company shall depend upon various factor, however, based on our past experience it takes around 3 to 6 months to obtain a closure certificate from the department.

6. How Legal Terminus can help you to wind up your Company?

Legal Terminus can help you with winding up in a hassle-free manner within a reasonable time span and competitive Professional fees. To know more please book a telephonic appointment with one of our consultants for free.

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