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.

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    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

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