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Take over/sale of section 25 company

MCA / ROC Filings 1263 views 3 replies

CA Shalini Prakash

Chartered Accountant

41 Points Posted on 28 January 2012

Hello Everybody,

A section 25 company, which has not yet commenced any business, wants to close down. Since Closure of section 25 company is a big issue in itself, I wanted to know can such type of a company be sold to someone who wants to pursue similer object.

Replies (3)

Guest

Yes, Section 25 Company can be sold, but the same question of Approval will arise.

Ankur Shah & Associates

M: 94276 33901

E: ankur @ csankur.in

W: www.transferhub.in

pramod

Company Secretary in Practice

149 Points Posted on 25 February 2012

Yes, Sec 25 Company can be sold. Its routine practice to do these things. But before finalising issue further details required.

Regards

CS Pramod Ladda

email id: csladda @ ymail.com

veena

Working in Consultancy Firm

46 Points Posted on 01 March 2012

As posted by the first person, there is a Section 25 Company, not carrying on any business from incorporation, which wants to close. I know that it cannot be filed in Form FTE. However, please clarify whether the name removal under Section 560 can still be done by filing Form 61, or should it go through the procedures of volantary winding up? Please reply.