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.
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
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
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.
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