We, Indian parent -unlisted public limited company, have one wholly whoned subsidiary in Mauritius and 2 level step down subsidiaries in Mauritiis. We want to close first level subsidiary company having impact both forward and backward chain. Checklists please
Check list for Closing First-Level Subsidiary in Mauritius:
1.Review Legal Requirements: Check Mauritius companie act requirements for winding up or dissolving a company. Understand implications for wholly-owner subsidiaries and step-down subsidiaries.
2. Assess Impact on Step-Down Subsidiaries: Evaluate how closure affects operations, assets, liabilities, and obligations of the 2 level step-down sbsidiaries.
3. Board Resolutions: Obtain board resolutions from the Indian parent company and the Mauritious subsidiary to approve the closure.
4. Creditor and Debtor Management: Settle debts, manage creditors, and handle receivables.
5. Tax implications: Consider tax implications in both Mauritius and India for the closure.
6. Employee and Labor Considerations: Handle employee terminations or transfers if applicable, followig Mauritius labour laws.
7. Asset Disposal/Transfer: Decide on disposal or transfer of assets of the subsidiary.
8. Regulatory Approvals: Obtain necessary approvals from Mauritius regulatory authorities for dissolution.
9.Documentation and Filing: File necessary documents with Mauritius authorities to formalize closure.
10. Post-Closure Compampliance: Ensure compliance with post-dissolution requirements in Mauritius.
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