Winding Up of a Pvt Ltd Company
A private limited company is a business entity with a maximum of 50 members who have limited liability in the company. There are various legal compliances that you need to adhere if you are operating a private limited company such as filing income tax return, filing documents with ROC (Registrar of Companies), filing GST returns and many others.
You may have registered a company with a long-term perspective but sometimes it does not work because of various reasons such as default in following compliances, the idea did not work the way it should or you are facing losses. In such cases, it is better to voluntarily close the company than to bear the cost of running and maintaining it. The new procedure to close the company is easy and quick as compared to the previous procedure which was lengthy and tedious. To get rid of annual requirements by ROC and to release your assets from the company, closure is a good option. Shareholders can initiate voluntary closure of a private limited company anytime they wish.
To start with the closure process, you first need to pay off your liabilities if any, towards secured creditors, unsecured creditors or employees. After settling your dues, you have to close your company’s bank account and complete dues of annual return filing. To file the application to ROC through Form STK 2, you first need to stop all the operations of your company and surrender your GST registration.
Afleo will help you in complying with the legal procedure to voluntarily close your company. Our Business advisors will give solutions to all your queries regarding the closure of a private limited company and help you with all the Documents required, Process, Fees etc. Afleo.com started with the simple idea that doing business in India should be very easy. Our growing team of young hard working professionals is our biggest asset. For our team, consumers are the priority and thus, we work meticulously to ensure that documents are filled correctly and swiftly. Afleo is the market leader with the completion of hundreds of closure procedure within the stipulated time.
