Biz Registration

Closure of Company

Biz Registration provides information and services regarding the CLOSURE OF the COMPANY.

Company registration is required to list the company in the register of companies. The company's registration should be done before opening an office, commencement of business, and issue of shares to non-resident persons. Once a registration number is mentioned on the Register, a person can apply for incorporation as an individual or as a body corporate through a Partner or Agent.

The process of dissolution of existing business corporations is also known as "closing down" or "liquidation". However, once these steps are taken and you’re ready for some post-closing planning and closure tasks, you need to file a notice with the Office of the Registrar of Companies at the regulatory body for your jurisdiction to be effective.

A company must typically be officially dissolved within three months, though this time frame might vary greatly if the process is complicated. But after the winding-up notice is published in the Gazette, a company will no longer exist after at least three months. Nevertheless, some businesses might submit an application for the Striking Off name using the fast track exit mode.

Companies that are ineligible for strike-off include:

• The company formed after November 2nd, 2018; however, no 20A has been submitted.
• It hasn't been a full year since the company's incorporation.
• For an active business that has conducted transactions over the previous two years.
• DIN has been disabled.
• Any director is ineligible.
• The ROC has already notified the company of the strike-off.
• Any pending legal actions are ongoing.

Documents needed for CLOSURE OF COMPANY:

• company's PAN card
• Account closure certification for the business
• An indemnity bond, which the directors must notarize
• latest financial statement for the company
• Statement of Accounts that include all of the company's assets and liabilities and have been audited by a chartered accountant (CA)
• Proof that at least 3/4 of the board members have approved the resolution
• Application to remove the company's name

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What Client's Say?

04. Dear Sumit, Thank you for the smooth and professional execution of incorporation. I heartily extend my gratitude to the Biz Registration team. I especially thank Mr. Sumit for the professional courtesy and patience extended during the incorporation. I