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How to close private limited company

Abhinav (CA Practitioner) (96 Points)

15 July 2012

Dear Friends,

I want to close a private limited co. Company incorporated in March 2012 and it doesnt have any asset and liability.

Only thing they have is Share capital 100000 and cash in hand 100000. If they have not applied for PAN.

Pls advise how we can close the company.

Regds

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2 Replies

CS. DISHA SHAH (Properitor of D. M. SHAH & CO. COMPANY SECRETARY) (394 Points)
Replied 16 July 2012

Hello,

You can close the Company under FTE Scheme.

u have to just file a Form along with Affidavit, Indemnity Bond, and annual accounts showing nil assests and liabilities, Board Resolution.

you can get all details and format of Affidavit and all from the Circular No. 36/2011 dated 7th June,2011.

CS MOHIT SALUJA (PRACTICING CS Jalandhar 9914558709) (5155 Points)
Replied 23 September 2012

For filing the FTE, the formost conditions are:

The company either have not done any work since incorporation or have not carried on any activity for the last one year. So from above conditions, the first one favour that the company is inoperative since incorporation. So you can move to file FTE but for that the company must have losses on one side and the capital on the other. So with cash on asset side, the FTE can not be filed by the company.