I am trying to shut down a private limited company which was incorporated on July 2012. I was told that a company can not be closed within a year since its incorporation. i.e i can shut down my pvt ltd company only by July 2013.
The reason given is "Company is a defunct company i.e. the company has nil assets and liabilities and has not carried on any business or operation for the last one year."
Is it that a private limited company can be shut down only after a year since its incorporation? (something akin to divorce laws where couples are given some mandatory time of reconcilation)
PLease clarify on this
CAclubindia
