Direct Tax
Consulting
ESG Advisory
Indirect Tax
Growth Advisory
Internal Audit
BFSI Audit
Industry Audit
Valuation
RBI Services
SEBI Services
IRDA Registration
AML Advisory
IBC Services
Recovery of Shares
NBFC Compliance
IRDA Compliance
Finance & Accounts
Payroll Compliance Services
HR Outsourcing
LPO
Fractional CFO
General Legal
Corporate Law
Debt Recovery
Select Your Location
It is a challenging process to shut down a private limited company. There are several ways depending upon the requirement of the business owner to shut down a private company. The ways in which a private company can be shut down:
Section 248 of the Companies Act, 2013[1] deals with the strike off provisions of a defunct private limited company. Any Defunct Company who want to strike off its name from the register of Registrar of Companies can apply via Form FTE for strike off its name from the register maintained by ROC. Annual filing private limited company may be declared defunct and shut down by petitioning the Registrar of Companies.
If the ROC is satisfied with the given application for strike off the company then it will strike off the name of the company and will declare that company as defunct, and a notice regarding the same shall be published by the ROC in the official gazette. The approval of form FTE takes around one month from the date of filing of the application.
(a) Voluntary winding up; or
(b) By the Tribunal (also known as compulsory winding up)
Also, Read: Winding Up of Producer Company.
In the case of voluntary winding up, the process is undertaken without court supervision.
The tribunal has the power either to dismiss or to make an interim order after hearing the petition for winding up, or it has also the power to appoint the provisional liquidator of the company till the passing of winding up the order.
Read More: FAQ on Fast Track Exit Scheme 2019.
Non-banking finance companies (NBFCs) play a very important role in the Indian financial system...
Sweden is a country in Europe and has been a member of the European Union (EU) since 1995. The...
Gold loans are among the most popular loan types, particularly in rural India. Millions of peop...
The Reserve Bank of India (RBI) has recently issued new guidelines aimed at reducing unfair cha...
Corporate tax plays an important role in selecting the ideal location for setting up a business...
Are you human?: 4 + 9 =
Easy Payment Options Available No Spam. No Sharing. 100% Confidentiality
The Winding-up of a Company under Companies Act 2013 in any of the following ways: By National Company Law Tribunal...
07 Nov, 2019
Limited Liability Partnership, also called LLP, is a new form of business entity introduced in 2008 through the LLP...
27 Jul, 2023