Everyone has started a Private Limited company with ambition to do the business more successfully and earn money quickly. At the same time all the entrepreneur has not achieved the success of business in private Limited company. There are many reasons to close or wind up the company and the same can be closed by using the following procedure.


private limited company closure procedure

Sell the Company

A Company may be called winding up by selling the majority share of the company to others. As per the act which is not a winding up but the shares are transferred to other person or entity. The existing shareholders discharged their duties and responsibilities to new one

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closure of private limited company

Compulsory winding up

In case a company registered under the Companies act doing unlawful business or fraudulent act, such a company would be wound up compulsorily by the Tribunal by filing the petition in Form WIN 1 or WIN 2 in triplicate accompanied with Form WIN 3

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strike off private limited company

Voluntary Winding up

Directors of the company can be applying for voluntarily windup of the Company registered under companies act and to follow the compliance as per the act. The certain mandatory requirements to be completed to voluntarily winding up the company under the companies by passing necessary resolution as per the act.

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winding up of private limited company

Defunct Company winding up

There is no financial transaction don by the company since incorporation is called dormant and defunct company. The Governments provide certain relief for this company. A dormant or Defunct company can be winding up by applying the Form STK-2, no other documents submission required under Form STK2. A Dormant or Defunct Company should not have assets & Liabilities, No financial Transactions, no activity for last one year prior to making application.

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