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Close a Indian Company

What is Closing a Indian Company?

Closing a Company means shutting down its operations and ceasing all business activities. This can happen for a variety of reasons, such as bankruptcy, insolvency, or simply a decision by the owners to retire or move on to other ventures. It often involves a formal process of winding up affairs, paying off debts, and distributing any remaining assets to shareholders or creditors.

Process Flow

Step 1

Share documents and requirements Passing the board

Share your requirements and the list of documents mentioned below.
Step 2

Passing the board resolution

A board meeting needs to be conducted and a resolution needs to be passed for closing the company
Step 3

Wazzeer will share draft documents

Wazzeer team will prepare draft documents on which signatures will be required of current directors/shareholders
Step 4

Wazzeer will obtain Indemnity bond and Affidavit bond

Indemnity and Affidavit Bond has to be duly notarised by all directors
Step 5

Clients to share executed documents

Clients would have to sign and seal necessary documents and send to us
Step 6

Filing of e-form with ROC

We will help with filing and submitting e form to Registrar of Companies for closing foreign subsidiary
Step 7

Sharing deliverables

We will provide Resolution, filed e forms and challan

Documents required

  • Proof of ID (PAN of all Directors)
  • A statement of accounts showing the assets and liabilities of the Company made up to a day – Certificate from CA

Deliverables

  • Resolutions and Filed e-Forms
  • Challan

Why choose Wazzeer?

  • One platform for all your requirements

    Incorporation is just the first step. Wazzeer supports you throughout your journey as an entrepreneur. Log in to get things done efficiently. A dedicated Account Manager offers the required human touch and acts as an advisor to you.

  • Experienced professionals

    Our professionals have at least 5 years of experience and have incorporated thousands of companies among them. The rich experience ensures that the process is smooth and right in the first go.

  • Defined process

    Over the last few years, doing over 500 incorporations, we have defined every step of the process. A virtual process is in place enabling us to deliver hassle free experience for you.

  • Cost Effective

    You pay what you see in the proposal. No surprises or hidden charges.

Frequently Asked Questions

When all the directors and shareholders of the company mutually agree to close a company then upon receiving the application ROC closes the company.

Document required for closing a business:

  • All Income tax returns filed with ROC.
  • Resolution from the board of directors authorizing the closing of the business.
  • Indemnity Bond from all the Directors of the company.
  • An affidavit from all the directors of the company.
  • Financial Statements with NIL Liabilities.

Section 425, of Companies Act, 1956, deals with modes of winding up.
The winding up of a company may be either:
(a) By the Tribunal (also known as compulsory winding up)
(b) Voluntary winding up
(c) subject to the supervision of the Court

A company can be closed in the following ways:

 Strike off a company under Section 560:

Winding up

Voluntary winding up 

Overview of winding up 

Only the companies that are declared insolvent can close with outstanding debt not otherwise.