Winding up is the process of dissolving a company or selling all the assets of a company to the shareholders or partners. It is the process by which a company’s assets are collected and sold in order to pay its debts.
There are three way to wind up a company.
Selling a company can be a long and detailed and complicated process. so it take much more time, if you connected with the BizDesk we can help you to save your time and money.
The shareholders or partners of a company can trigger a voluntary liquidation, usually by approving a resolution. A company can be liquidated voluntarily, in either of two ways:
In the defunct Company it is mandatory for the Company to file the regular returns with Registrar of Companies and other statutory authorities in time. For the purpose of applying for the FTE scheme
No Assets:
A company can apply for closure if all assets extinguished and with the consent of shareholders holding 75% shares in the company
Bank Account:
Before making application, all bank account opened in the name of the company stand closed.
No Liability:
All liabilities must be settled or waver certificate must be obtained from liability holders
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