Venture Care - closing a limited company online|liquidation of company  - PowerPoint PPT Presentation

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Venture Care - closing a limited company online|liquidation of company 

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Venture Care can help you guide through the process for winding up a limited company or how to close a limited company easily & also helps in the closing a ltd company. – PowerPoint PPT presentation

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Title: Venture Care - closing a limited company online|liquidation of company 


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How to close a limited company Procedure for
winding up a limited company
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A Limited Liability Partnership can be closed
down by declaring the LLP as defunct. Declaring
the LLP as Defunct In case the LLP wants to
close down its business or where it is not
carrying on any business operations for the
period of one year or more, it can make an
application to the Registrar for declaring the
LLP as defunct and removing the name of the LLP
from its register of LLPs. closing a limited
company Procedure File E-Form 24 with the RoC
along with the following documents Copy of
detailed application. There is a prescribed
format of detailed application in MCA which needs
to be submitted. Copy of authority to make the
application. Copy of consent of all the
partners. Copy of consent of all the
creditors. Copy of affidavit for each of the
designated partners. Copy of the undertaking/
indemnity bond for striking off name. Statement
of assets and liabilities duly certified as true
and correct by auditor/chartered accountant in
practice. Copy of acknowledgement of latest
Income tax return. Attested (by CA) copies of PAN
and address proof of all designated
partners/partners. A paragraph of reason for
which the LLP is proposed to be shut down. Once
all the documents are executed, the same are
filed with the Registrar in e-form 24. The
Registrar will keep the application open for a
period of one month to check if there are any
objections and once it is satisfied, an order
will be issued to strike off the name of the LLP
from its records and complete the
process. Although this process does take some
time, it is one of the most convenient ways to
close a LLP, which has not undertaken any
business during the last one year. Under
Companies Act 2013, a Company can be closed in
two ways. Winding Up a limited company Winding up
is a tedious process and can be done either
voluntary by calling up a meeting of all
stakeholders and passing a special resolution or
can be done on the order of Court or Tribunal.
Strike Off mode was introduced by the MCA to give
the opportunity to the defunct companies to get
their names struck off from the Register of
Companies. On 27th December 2016, MCA has
notified new rules i.e. Companies (Removal of
Names of Companies from the Register of
Companies) Rules, 2016 prescribing rule for
winding up or closure of the private limited
company under companies act 2013. By releasing
the form STK 2, the ministry of Corporate
Affairs has brought the Section 248- 252 of 2013
3
act into force. liquidation of company Fast
track Exit This is the most awaited procedure
that got active again on 5th April 2017. This
procedure was introduced in Section 248 of
Companies Act 2013. Fast Track exit can be done
in two ways Suo Moto by Registrar The registrar
may strike off the name of Company on its own
if Company has failed to commence any business
in a year of its incorporation The company is not
carrying out any business or Activity for
preceding 2 financial years . The Registrar
sends a notice (STK-1) of his intention to remove
the name and seeks the representation of Company
in 30 days. Voluntary Removal of Name using Form
STK 2 Once the form is filed, the Registrar has
power and duty to satisfy him that all amount due
by the company for the discharge of its
liabilities and obligations has been realized.
ROC can also issue a show cause notice in case
of default in filing returns or other
obligations. After above formalities, ROC issues
a public notice and strike off the name of
Company after its expiry. Companies that cannot
file for voluntary strike -off A company cannot
fill the form STK 2 at any time in the previous 3
months i f the company has Has changed its name
or shifted its registered office from one State
to another Has made a disposal for value of
property or rights held by it, immediately Has
engaged in any other activity except the one
which is necessary or expedient for the purpose
of making an application under that section, or
deciding whether to do so or concluding the
affairs of the company or complying with any
statutory requirement Has made an application
to the Tribunal for the sanctioning of a
compromise . closing a ltd company liquidation
of company
4
Contact Us Head Office (India) Sr.No-29,
Ajikyatara, kalaniketan,
Venture Care Bank,

3031 AV Rotterdam, (NL) Pune, Maharashtra
411043 (IN) Phone (020)-65 3636 33
Venture Care
Branch Office
(Netherlands) Dhankawadi, Near Rajshri Shahu
Jonker Fransstraat 46,
Phone31 614 575 275
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