Procedure for close of pvt company
This query is : Resolved
16 February 2018
For Voluntary Winding Up:
- BD (Board Resolution) is required.
- majority directors must agree for winding up.
- a Special Resolution must be passed where 3/4th the total Shareholders must cast their vote in favor of winding up the company
- consent of the Trade Creditors is required. Trade Creditors has to give their approval that they don’t have any obligation if the company gets wound up.
- The Company needs to make a Declaration of Solvency and the same must be accepted by the trade creditors. -
- The Company must show the Company’s credibility in Declaration of Solvency.
- Appointed Liquidator will make a report of the assets, liabilities, reserves, capital etc.
- Above procedures shall be presented and filed in a prescribed form
- Company name shall be prohibited for 2 years to be taken by any other applicant.
- BD (Board Resolution) is required.
- majority directors must agree for winding up.
- a Special Resolution must be passed where 3/4th the total Shareholders must cast their vote in favor of winding up the company
- consent of the Trade Creditors is required. Trade Creditors has to give their approval that they don’t have any obligation if the company gets wound up.
- The Company needs to make a Declaration of Solvency and the same must be accepted by the trade creditors. -
- The Company must show the Company’s credibility in Declaration of Solvency.
- Appointed Liquidator will make a report of the assets, liabilities, reserves, capital etc.
- Above procedures shall be presented and filed in a prescribed form
- Company name shall be prohibited for 2 years to be taken by any other applicant.
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