Winding Up of a Company
A private limited company is an artificial judicial person and requires various compliances like appointment of Auditor, regular filing of income tax return, annual return filing and more. Failing to maintain compliance for a Company could result in fines and/or disqualification of the Directors from incorporating another Company. Therefore, if a private limited company has become inactive and there are no transactions in the company, then it is best to wind up the Company.
VVoluntary winding up of a company can be initiated at anytime by the shareholders of the company. In case if there are any secured or unsecured creditors or employee’s on-roll, the outstanding dues must be settled. Once all the dues are settled, the bank accounts of the company must be closed. Finally, the company must regularize any overdue compliance like income tax return or annual filing and surrender the GST registration. Once, all activities are stopped and the registrations are surrendered, the winding up application petition can be filed under the Ministry of Corporate Affairs.
BusinessCrow can help you to wind up your Company, quickly and easily. BusinessCrow can help you to initiate the winding up process within 10-14 days. The entire process for winding up of a company can be completed within 3-6 months, as subject to government processing times. Based on unique circumstances the timeline for winding up of a company could also differ from case to case. To discuss more about winding up a company, get in touch with a BusinessCrow Advisor.
Reasons to Winding Up of a Company
A company is a legal entity and a juristic person established created under the Companies Act. Therefore, a company is required to maintain regular compliance throughout its lifecycle. Winding up process can be to close a company that is not active and avoid compliance responsibilities.
Fast to Close
A company can also be closed by filing an application with the MCA in about 3-6 months. The entire process can be done online. Hence, the process for closing a company is faster and easier through BusinessCrow.
A company that doesn't file its compliance on time incurs fines and penalty including debarment of the Directors from starting another Company. Hence, it is better to officially wind up a company that is inactive and avoid potential fines or liabilities in the future.
When compared to maintaining compliance for a dormant company, it might actually be cheaper to wind up a company and incorporate again. BusinessCrow can help you wind up a company starting from just Rs. all inclusive fees.
Easy to Close
A company with minimal or no activities that has maintained proper compliance can be easily closed in India. If the compliance is overdue, the compliance must first be regularized and registrations are surrendered to close the company.
Simple & Transparent Pricing
Rs. 29999.00All Inclusive
Rs. 44999.00All Inclusive
Rs. 79999.00All Inclusive
How we help with winding up of a company
BusinessCrow can help you wind up a company in about 3-6 months, as subject to government processing times.
A Business Expert advises on the formalities and reviews the activities of the Company and determines if it is ready for winding up. The review process would be complete in 2-3 days.
The necessary attachments documents are prepared by an Expert for winding up of the company along with the entire signature. Documents will be prepared by the Expert in 10-15 days depending on the size of company.
Winding up Application
Company winding up application along with the necessary documents is submitted to the MCA. MCA will usually approve the application for winding up and closing of the company in about 3-6 months, subject to processing time.
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