CLOSURE OF PRIVATE LIMITED COMPANY

CLOSURE OF PRIVATE LIMITED COMPANY

EVERY COMPANY INCORPORATED UNDER THE COMPANIES ACT HAVE SOME OBJECTIVES. IN CASE WHERE A COMPANY HAS NOT BEEN SUCCESSFUL IN ACHIEVING ITS OBJECTIVES DUE TO ANY REASON THAN SUCH COMPANY CAN VOLUNTARILY BE CLOSED BY THE MEMBERS OF THE COMPANY.

DETAILS AND PROCEDURE WHICH ARE REQUIRED TO CLOSE A PRIVATE LIMITED COMPANY:-

  1. COMPANY MUST PAY OFF ALL OF ITS LIABILITIES BEFORE MAKING AN APPLICATION WITH THE REGISTRAR.
  2. CONSENT BY ATLEAST 75% OF THE MEMBERS OF THE COMPANY.
  3. FILING OF E-FORM STK-2 (FORM FOR STRIKING OF NAME OF THE COMPANY) WITH THE REGISTRAR ACCOMPANYING WITH PRESCRIBED FEE.
  4. HOWEVER, E-FORM STK-2 INCLUDES:
  • STATEMENT OF ACCOUNT IN FORM STK-8 THAT SHOWS THE ASSETS AND LIABILITIES OF THE COMPANY.
  • BOARD RESOLUTION.
  • COPY OF SPECIAL RESOLUTION
  • INDEMNITY BOND SIGNED BY THE DIRECTORS.
  • AFFIDAVIT BY THE DIRECTORS IN FORM STK-4.
  • STATEMENT OF ANY PENDING LITIGATIONS.

WHEN APPLICATION IS APPROVED BY THE REGISTRAR THAN THE STATUS OF THE COMPANY SHALL BE MARKED AS “STRIKE OFF”.

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