Procedures for shutting down a private limited company

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shrishail (Querist)

14 March 2013 Dear Sir,

I want to shut down PVT LTD company.
Can any body explain me what is the procedure for the same.
Please help me.

Regards,
Shrishail

Ajay Mishra

Ajay Mishra (Expert)

14 March 2013 Hi

Go to the following link, it will help you:

https://www.mca.gov.in/MCA21/CloseCompany.html

Ajay Mishra

Ajay Mishra (Expert)

14 March 2013 Types of companies eligible to apply under section 560 of the Act
The following types of companies, which are not having any assets and liabilities as per the Financial Statement or Statement of Accounts drawn are eligible to apply subject to fulfillment of the conditions laid down hereinafter:—
(i) Companies that did not carry out any business at any time since their incorporation;
(ii) Companies that carried out some business activity but discontinued the same thereafter;
(iii) Non-Banking Financial Company (NBFC) as defined under section 45-I(f) of Reserve Bank of India Act, 1934:
(a) If such company is not registered with the RBI as NBFC and it has not carried out any operation or commercial activity since its incorporation;
(b) If such company is registered with the RBI as NBFC, 'no objection letter' is obtained from the RBI for availing the exit option and enclosed along with the application.
(iv) Collective Investment Management Company (CIMC) as defined in Regulation 2(1)(h) of Securities and Exchange Board of India (Collective Investment Companies) Regulations, 1999:
(a) if such Collective Investment Management Company is not registered with SEBI as CIMC and it has not carried out any operation or commercial activity since its incorporation;
(b) if such Collective Investment Management Company is registered with the SEBI, 'no objection letter' obtained from SEBI for availing the exit option and enclosed along with the application.
(v) Government Companies, which have no assets and liabilities and submit an approval letter issued by the concerned administrative ministry with the application.

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