PVT. LTD. Company Closure

Running a business can be intricate, and there may come a time when a Private Limited (Pvt. Ltd.) company needs to be shut down. This can happen for various reasons, such as a corporate sale, voluntary or involuntary closure, or winding up due to business failure. Regardless of the cause, it is essential for the directors to adhere to the legal requisites and guidelines stipulated in the Companies Act of 2013. This may entail following specific processes, fulfilling regulatory obligations, and conforming to legal formalities to ensure the proper closure of the Pvt. Ltd. company in compliance with the relevant laws and regulations.

There are two ways a Pvt Ltd company can face closure:-

  • Voluntary Closure:- A Pvt. Ltd. corporation must go through a protracted compliance filing process in order to voluntarily close. The events at issue might include anything, such as the approval of a special resolution by a majority of shareholders or the conclusion of the period for which the business was founded.

  • Defunct Winding-Up:- As per the Companies Act, 2013, if a company is declared as a Dormant Company, the government provides certain relief to wind up the company. This requires the filing of the STK-2 form with the Registrar of Companies.

  • Why choose us

    Sujata Associates is a flexible and experienced business consulting firm. We take pride to provide the best possible services in India with a cost-effectiveness that other companies can't match.
    We are providing legal business solutions for more than 25 years now. We have gradually built our reputation and now Sujata Associates is one of the leading business registration firms in India.
    We take our client's security as our top-most priority. Our privacy policy and payment gateways are secure and 100% trustworthy. That's why most of our work is repeat business. We guarantee you will come back!
    We have an entire team of highly skilled Accountants, CAs, Lawyers, Cost Accountants, Ex-Bankers, and Financial Experts. So, we have the exact service you are looking for in your business and Sujata Associates is your one-stop solution for all sorts of your business legalities.
    We have more than 1000+ satisfied clients all over India. We value our customers and we tried our best to deliver with integrity and efficiency. We ensure brands and names are seen and heard by the targeted customers. This turns our one-time clients into repeated ones. So, Check the testimonials!
    Sujata Associates is more than business consulting firm. We aim to work side-by-side with our clients while providing all the necessary solutions for the business and its legalities. We are more like your legal partner you would love to have. Sujata Associates never hesitates to go the extra mile or few for their clients.

    The procedure of Closure:-

  • A resolution must be passed with at least 2/3 of the directors agreeing to it
  • The consent of the Trade Creditors is essential
  • The declaration of solvency is then issued
  • The liquidator will then make an application to the Tribunal. A final order must be filed with the ROC

  • Sujata Associates is best known for handling complicated legal issues related to business like company closure. With our extensive experience of 20 years, we provide the most efficient legal services at a reasonable cost. During the Covid-19 pandemic, we are providing online services for our valuable clients. Pvt. Ltd. Company closure in Kolkata is now just a click away from you.