Winding up of a Pvt. Ltd. Company
A company winding up is required when the purpose for which company was formed is over or the company has become a defunct entity with NIL Assets and Liabilities. We shall extend our services to provide the required advisory and end to end support service to close the company. There are various scenarios in which a company can be closed, however, in case the company is inactive, defunct, or when there is no purpose left for the company to remain in existence, it is easier to close them. As the company is a creation of law, it can be closed by procedures established by statute only. To close a company, which has been registered under the Companies Act, 2013 or any previous Companies Act, the application for closure has to be filed as per the procedure established under the law. As of now, there are two methods only. For active company, or where there are assets or liabilities, file an application under Insolvency and Bankruptcy Code 2016 (IBC) before the National Company Law Tribunal (NCLT). In case your company is inactive for past two years or company did not start its operations within one year of its incorporation and there is no liability as such, then the company can be closed by filing Form STK-2 with the government fee.
