Closing Private Limited Company

Closing Private Limited Company Registration

  • INR 10,000 /-
  • All Inclusive, No hidden Charges

Basic Plan

A private limited company is also known as the LTD Company. In a private LTD company the shares are limited with the number of the shareholders. It also restricts shareholders from trading shares publicly.

The closing of a Private Limited Company may happen due to many reasons voluntarily or by the tribunal. Business loss, bankruptcy, passing away of promoters, etc. are few of the reasons why a Private Limited Company closes.

Requirements for closing Private Limited Company:
Voluntary closing of Private Limited Company:-
. The Company wants to close the operations by passing a special resolution
. There is an occurrence of an event as mentioned in the articles of association that requires the Company to be shut down.
. The Company’s duration expires, if any, as fixed in the articles of association
Compulsory closing of Private Limited Company:
. The Company is unable to pay its debts.
. Tribunal orders the Company to be shut down or is of the opinion that the Company is equitable and must be shut down.
. When the Company has not filed financial statements or annual return in the preceding five consecutive years.
. The Company has acted against the sovereignty and integrity of the state and India, friendly relations with foreign states, public order, decency or morality
. If the Company has been conducted in fraudulent manners or is guilty of fraud or misconduct

Board Resolution

General & Creditor meeting

Final general meeting

Dissolution & Publish notice

At least a year should have passed from the date of incorporation before the Company files for closing to the Registrar of Companies.

A resolution of Directors approving the closing of the Company and the same being declared with the condition that there are no pending debts is a key requirement for filing the voluntary closing of the Company.

Within 7 days of application submission, the Private Limited Company must notify the creditors, shareholders, employees, trustees, and other directors.

If the Company fails to comply with the timelines, a fine or penalty is incurred upon the Directors from starting another Company.