Winding Up of Co.. urgent!!

Pls Advice

 

There is a company ABC LTD

The three members of a family  are the only shareholders of the company.

 

Share Capital                      = 1 crore                                                      Assets   =  3 crore

Reserve & Surplus             = 2 crore

 

Pls advice how can this company be winded up through the shortest possible route.

Replies (3)

Firstly, distribute the Reserves as Dividend to the extent possible and capitalise the balance, so that Rs. 2 Cr. becomes free. Now the company has 1 Cr + of capital and equivalent value of assets.

Then, through a scheme for reduction of capital, pay back most of the capital to the members and leave only the amount that is required for having the legal status in place.

The Company can now go for voluntary members' liquidation. This would be a lenghty process but a cleaner one in which most of the balance assets would come back to the shareholders.

thanx 4 ur reply Mr Rasesh.

bt can u pls suggest me d shortest route possible.

I want the shortest way 2 wind up that company.

Hy Harsh,

 

There are only three ways for winding up of co.

1) Strike off the name of co. from register of co. with Registrar

2) By oder of tribunal / court

3) Member's voluntary winding up

 

For applicability of first case, co. must be defunct co. - abovementioned co. ABC Ltd. doesn't appear as a defunct co.

For applicability of second case, co. must be unable to pay its debts - in ur case, it doesn't seen since assets are sufficient enough

 

In my opinion, Mr. Rasesh has given the shortest possible route.

 

Any other opinion in this????? plz. let me also know.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 30 September 2026
CA Article Assistant

CA Suraj Garg & Associates

New Delhi

CA Final

View Details
Company
19 September 2026
Finance Manager

Mugdha Art Studio

Hyderabad

CA

View Details
Company
12 October 2026
Chartered Accountant - Internal Audit

HKC | Chartered Accountants & Business Advisors

Ludhiana

CA

View Details
Company
ARTICLESHIP 08 October 2026
ARTICLE TRAINEE

S.B.G. & CO. CHARTERED ACCOUNTANTS

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 17 October 2026
Articled Assistant

RRPM & Associates LLP

Chennai

CA Inter

View Details
Company
22 September 2026
Account Assistant

Chirag P Shah & Co. Chartered Accountant

Pune

B.Com

View Details
Company
12 October 2026
Finance

I-Genext Consulting Private Limited

New Delhi

CA

View Details
Company
ARTICLESHIP 07 October 2026
Article Assistant

Malhotra Rajesh & Associates

New Delhi

B.Com

View Details