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The procedure for Closing a Private Limited Company
Below are the procedures for Closing a Private Limited Company:
Stage 1: The first procedure for voluntary winding up of a private limited company to opc limited company is to Convene a Board Meeting with two Directors or with a greater number of Directors. Pass a resolution with a presentation by the Directors that they have made an inquiry into the undertakings of the Company and that, having done as such, they have shaped the supposition that the organization has no obligations or that it will have the option to cover its financial arrears from the returns of the advantages sold in the voluntary winding up of the organization. Likewise, fix a date, place, time, purpose for a General Meeting of the Company following five weeks of this Board Meeting.
Stage 2: Issue an advertisement as a written statement that announces the General Meeting of the organization proposing the goals, with an appropriate logical explanation.
Stage 3: In the General Meeting, pass the normal goals for closing down the organization by the majority or unique resolutions by 3/4 majority. The closing down of the organization will start from the date of moving these goals or resolutions.
Stage 4: Around the same time or the following day of the moving of the resolution for closing down the Company, plan and call for a gathering of the Creditors. On the off chance that 66% in the estimation of the money investors of the organization are of the sentiment that it is in light of a legitimate concern for all the interests to be wrapped up by the organization, at that point the organization can be closed down willfully. On the off chance that the organization can’t meet every one of its liabilities on winding up, at that point the Company must be closed down by a Tribunal.
Stage 5: In 10 days of motioning the resolution for closing down the organization, record a notification with the Registrar for the assignment of the liquidator.
Stage 6: Within 14 days of motioning of the goals for the ending up of the organization, send out a notification of the goals in the Official Gazette and publicize in a paper with dissemination in the region where the enrolled office is available.
Stage 7: Within 30 days of General Meeting for closing down of the organization, record ensured duplicates of the common or unique resolutions motioned in the General Meeting for closing down of the organization.
Stage 8: Wind up undertakings of the organization and set up the vendors to represent the closing of the organization and get the equivalent reviewed.
Stage 9: Call for conclusive and final General Meeting of the Company.
Stage 10: Pass the special goals for removal of the books and papers of the organization when the undertakings of the organization are fully wound up and are going to be brought down soon.
Stage 11: Within about fourteen days of the last General Meeting of the Company, record a duplicate of the records and document an application to the Tribunal for passing a request for the disintegration of the organization.
Stage 12: If the Tribunal is fulfilled, the Tribunal will pass a request dissolving the organization inside 60 days of getting the application.
Stage 13: As the last but one step involved in the procedure for voluntary winding up of private limited company, the organization vendor would have to document a duplicate of the request with the Registrar.
Stage 14: The Registrar, on getting the duplicate of the request passed by the Tribunal at that point will distribute a notification in the Official Gazette that the organization is closed down. This completes the final process in the various steps to close a Private Limited Company.
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Steps to close a Private Limited Company through the Compulsory Wind Up Process
The The appeal to the court ought to be recorded alongside the announcement of undertakings of the contested organization.In the wake of investigating the believability of the appeal documented, the council may acknowledge or dismiss the previously mentioned request.
The Here, the outlet will be selected by the council itself.
The The outlet will execute all the advantages of the organization, inspect the book of records, and order it into a draft or report.
The These reports are to be sent to the court after the wrapping up advisory group had acknowledged the equivalent.