- Availability 24/7 Hours
- +91 8604665727
- info@taxoexpert.com
Closure Of Company
Closure Of Company
The shareholders of the Company can initiate the winding up of the company anytime. If there are secured or unsecured creditors or employees on a roll then all the dues need to be settled. After settling the dues it is necessary to close all the Company bank accounts. The GST registration must also be surrendered in case of Company wind up.
The Companies Act, 2013 laid down the procedure for winding up a Defunct Company. A Defunct or Dormant Company can wind up with a fast-track procedure that requires submission of the STK-2 form. Hence, Form STK-2 is required in order to wind up a Defunct Company and there is no additional procedure for that. The form STK-2 needs to be filled with the Registrar of Companies and the same needs to be duly signed by the director of the company authorized by its board to do so.
Due to several reasons, business owners may decide to close their private limited company. There are certain steps and procedures to be followed when closing a private limited company.
WHEN COMPANY CAN APPLY FOR CLOSURE?
- When a company has not commenced its business within one year of incorporation; or
- When The Company is not carrying out any business or activity for the preceding 2 financial years and has not sought the status of Dormant Company under Section 455 of the Act.
WINDING UP INVOLVES THE FOLLOWING STEPS-
- The company passes a resolution in their general meeting.
- The consent of the Trade Creditors is also required to wind up the company.
- The Company has to make a Declaration of Solvency and the same must be accepted by the trade creditors of the company.
- The liquidator so appointed will carry out the winding-up proceedings and prepare a report of the winding-up on the assets, properties, debts and so on.
- A statement of accounts containing assets and liabilities of the company made up for a day, not more than 30 days before the date of application, and certified by a Chartered Accountant;
- An affidavit on a stamp paper, duly notarized, in Form STK 4 by every director of the company to be given individually;
If STK-2 is filed and accepted by the ROC, the company would be dissolved under section 248 of the Companies Act, 2013. The name of the company is removed from Register, from the date mentioned in the notice under sub-section (5) of section 248 cease to operate as a company and the Certificate of Incorporation issued to it shall be deemed to have been canceled from such date except for the purpose of realizing the amount due to the company and for the payment or discharge of the liabilities or obligations of the company.
Enquiry Person Details
Other Services
Contacts
Visit Us
7/115, D & E, Ground Floor, Ashraya Apartment, Swaroop Nagar, Kanpur - 208002
Have Any Questions?
+91 8604723727
0512-3553102
Mail Us
cacslegals@gmail.com fennixxlegalindia@gmail.com
Brochures
