Closing a private limited Company

Winding up private company

A private limited company is treated as a business entity dealt completely by private ownership. For the registration of a Private limited company it is mandatory to have four roles defined sorted namely 2 Directors and 2 Shareholders. It is not necessary to have four different people to be part of the establishment; a person can act as both the shareholder and one of the directors. Company registration is done under statute and only under law closing a private limited company can be done. Company closure could happen owing to many reasons that would range from internal to external factors such as inadequate working capital, voluntary shutting down the business, change in government policies and so on. The term winding up of company is also used to define the same where the company would not be functional anymore.

In case the closure of private company is not done even after ceasing the business operations then there are ROC compliances which need to be done on regular basis to avoid the heavy penalties under the companies’ act, 2013, hence to avoid this it is advisable to do a proper private limited company closing for the well being..

Under statute a company closure can be done as per the procedure for closure of private limited company under companies act 2013, it is recommended by the government that if a company is not considered to be functional and profitable and the team behind is not willing to continue it is recommended for closing a private limited company instead of letting it exist without annual compliances of ROC...

At Unilex Consultants we provide you a hassle company closure process which would be dealt by our professionals within time frame. Our team takes care of the documentation for closing a pvt ltd company and aids in provide you the realistic estimation of cost..

Advantages of closing a Private Limited Compan