Welcome to BLUEDEX INDIA! 

+91-7011019451
info@bluedex.in
New Delhi
Close the Pvt Ltd Company

Apply Winding Up of a Company in India

With our help, you can easily dissolve your business and avert paying unnecessary fees and audit costs. That too in three easy steps.

    Steps
    How it Works

    Why Should I Use Bluedex For Company Liquidation?

    Get in touch with experts

    Complete the provided form, and we will respond to all of your questions regarding dissolving a private limited company.

    Complete the paperwork

    You receive assistance from Vakilsearch experts throughout the entire process.

    Wind up your company

    You will receive documents via courier within the predetermined time frames.

    Overview
    An Overview

    What Is Liquidation of a Company

    Liquidation, expressed simply, is the process through which a business ends its operations. The business may opt to shut down for a number of reasons, such as an unwillingness to carry on with business as usual, insolvency, and so on. Liquidation of a company refers to the process of selling a corporation’s assets to pay obligations and settle liabilities.

    In the event that a business is liquidated owing to bankruptcy, the liquidator may sell the company’s assets to satisfy all outstanding debts. Any money left over after paying the creditors is distributed to the company’s shareholders. Liquidation of a company is a complicated process.

    Company
    Close the Pvt Ltd Company

    Checklist for Winding up of Company in India

    The board should be called to approve the dissolution of a firm | It is best to appoint an official liquidator or insolvency expert | The Income Tax Department’s NOC should be requested concurrently | Before starting a winding up proceeding, a notification must be sent to the Insolvency and Bankruptcy Board of India (IBBI) within seven days after passing the resolution | The entire winding up of company process shall be finished in 12 months of the start of the liquidation of a company

    Benefits of Company Liquidation of Company

    Free from debts after liquidation

    Directors and all other company personnel are released from all obligations to and pressure from creditors once the process of liquidation is complete.

    Avoiding legal action against the company

    Directors will disregard legal action taken by the court or tribunal if the resolution is approved willingly, giving them a chance to focus on other commercial prospects.

    Comparingly low cost charged for liquidation

    The charges or expenses related to the process of liquidationare fairly small because there will be fees related to the sale of assets.

    Documents Required for Liquidation of a Company in India

    PAN card for the business
    Closing statement for the business's bank account
    A notarised indemnification bond that the directors must execute
    Most recent financial statement for the business
    Accounts that include all of the company's assets and obligations that have been reviewed by a Chartered Accountant (CA)
    Proof that at least 3/4 of the board members have approved the resolution
    Application to change the company's name.

    We work together for success.

    One of the key benefits of partnering with Remote IT Solutions is our security expertise.
    Testimonial
    Testimonial

    What people say about us

    FAQs

    Let’s clear all the doubts!

    Is liquidation beneficial for a business?
    If a corporation is liquidating, it is out of business and its stockholders are almost certainly out of luck. If it's trying to escape liquidation, it might succeed, and if it does, the value of its shares might increase along with it. In accordance with the legal process the organisation follows.
    How is a company dissolved?
    If the debt is not paid by the scheduled court date after a successful application and order have been made, the company's accounts are blocked. During this procedure, assets are sold, and the money is subsequently divided among creditors.
    Can a business be liquidated?
    There is little to no turning back after the choice to push a firm into liquidation has been made for the organisation and its directors.
    How much time does the process of liquidation require?
    The code specifies a 180-day time limit for the insolvency resolution procedure, which starts on the day the application is accepted by the tribunal (and may be extended a further 90 days).
    Who is the liquidator?
    The insolvent company is responsible for paying the liquidator's costs. In the event that the corporation has no assets or funds, the directors are in charge. Remuneration, often known as the fees charged by the liquidator, must be approved by the creditors.
    Get In Touch

    Close Company

      Archives

      Categories

      Cart

      No products in the cart.

      Select the fields to be shown. Others will be hidden. Drag and drop to rearrange the order.
      • Image
      • SKU
      • Rating
      • Price
      • Stock
      • Availability
      • Add to cart
      • Description
      • Content
      • Weight
      • Dimensions
      • Additional information
      • Attributes
      • Custom attributes
      • Custom fields
      Click outside to hide the comparison bar
      Compare