PVT. LTD. Company Closure

Running a business is never an easy task and sometimes, things might not go according to plan which may result in the closure of the company. There are several reasons a Pvt. Ltd. The company may shut down, like selling of the company, mandatory or voluntary closure or even a defunct company wind up. However, whatever the reason, the directors must abide by certain legal rules and regulations, as per Companies Act, 2013.


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


  • Voluntary Closure:- The voluntary closure of a Pvt. Ltd. company requires a long procedure of compliance filing. The circumstances can be anything like the passing of a special resolution signed by a majority of the shareholders or expiry of the duration for which the company was formed.

  • 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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