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Close a Private Limited Company

Starting at Rs. 15,000/-* only

Closure of Private Limited Company

If the company owners or directors decide to discontinue or wind up the business, they may consider for the options of the closure. Most feasible or easiest way to close a company is striking off its name from Register of Companies. This is preferable when a company is
inoperative for a certain period. Other options include a winding-up petition, however that involves more time, investment and compliance.
On approval of the strike off, the company’s name is removed from the register and thus, it is not existent in the eyes of laws. The company must fulfil all the compliance before proceeding for the strike-off application. The application is accompanied by various
documents and requires assistance from the professional.

WHAT ARE THE CONDITIONS BEFORE APPLYING FOR STRIKING OF COMPANY?

A) A company can apply for striking off voluntary after satisfying the below given conditions:-
i) Extinguishing all its liabilities and
ii) Taking approval from Members by special resolution

B) By Registrar of companies on finding of any of below given grounds:-
i) a company has failed to commence its business within one year of its incorporation or
ii) a company is not carrying on any business or operation for a period of two immediately preceding financial years and has not made any application within such period for obtaining the status of a dormant company or
iii) the subscribers to the memorandum have not paid the subscription which they had undertaken to pay at the time of incorporation of a company and a declaration to this effect has not been filed within one hundred and eighty days of its incorporation
iv) the company is not carrying on any business or operations, as revealed after the physical verification after registered office of company is found by Registrar of Companies.

Documents required for strike-off of company

What Is Included In Our Package?

HOW TO WIND UP OR STRIKE OFF COMPANY?

1. Complete simple form

2. Verification of documents by our experts

3. Application of Strike Off

4. Processing of Application

5. Your Company is under Strike off Procedure

Why choose LegalSahayata?

Low Price

No Office Visit

No Hidden Cost

Charges After Work Completion

Frequently Asked Question

Strike Off means removing the name of the Company from the Register of Companies maintained by the Registrar of Companies.
It is more like a Closure of the Company and the Company will not be in existence after being Struck Off and cannot perform any operation thereafter.

Shutting down a company is a long and complicated procedure. A Private Limited Company can be closed down in various manners depending on the requirements of the owner.
1. The owner can sell the company.
2. Can close down the company by declaring the company ‘Non -operational” (Striking of the company).
3. Winding up or dissolving the company.

The closure is the best option in case the company is not running as it:
Saves the yearly compliance cost
No non-compliance risk.
No risk of high penalties and prosecutions
No risk of getting into default

After filing the application with the Ministry of Corporate Affairs, it takes about 90 days for striking off the Company from MCA records. On approval for strike-off by RoC, the notice of strike-off is published on its website to open for any objection or representations by third
parties.

RoC will publish a list of companies struck off in the Official Gazette. The Company under fast-track exit mode will be considered closed from the date of publication of the notice in Official Gazette.

The closing documents have to be filed within 30 days from the date of signing of the assets and liabilities statement.

In case the company is struck off due to its default, then it would have to apply to the National Company Law Tribunal for changing the status of the company from strike off to active by giving valid reasons for the fault.

Need assistance? Don’t worry, experts are here to help!


Call us at: 8000028250 or Email us: legal.agarwalconsultant@gmail.com

 

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