PUBLIC LIMITED COMPANY CLOSURE

All Over India Services Provided Complete One Person Company Closure Process
In 5 Working Days
One Person Company Closure Thorught Fast & New Strike Off Mode
Work Handled By Professionals

PUBLIC LIMITED COMPANY CLOSURE?

On the off chance that an PUBLIC LIMITED COMPANY is inoperative for over one year from the date of consolidation then the owner may apply for closure of the Company under the method of Fast Track Exit (FTE) plan of the MCA. If not it can would up voluntarily or by the order of NCLT. As despite the fact that it's inoperative it is obligatorily required to file all compliances and regular returns punctually. Thus it is smarter to file for the closure, so the stakeholders of the Company are relaxed from satisfying the legal and regulatory compliances.

Conditions before intiating Strike off Public Limited Company

the company has filed its upto date all the financial statements and annual return with the Registrar of Companies.

the subscriber to the Memorandum have not paid the subscription which they had undertaken to pay at the time of incorporation and a declaration to this effect has not been filed within 180 days of the incorporation.

the company is not carrying on any business or operations as revealed after the physical verification carried out under section 12(9) of the Act.

the company has no secured loan and no charge is in existence.

no inquiry, technical scrutiny, inspection or investigation is ordered orpending against the company.

no prosecution or any compounding application for any offence under the Act or under any of the other Acts is pending against the company or against the undersigned.

It require a special resolution or consent of at least 75% of the shareholders/members. Further the company closure request should be filed after repaying all creditors, disposing all assets and closing all bank accounts. Further, kindly note the following points:

Take NOC form after clearing the dues/liabilities.

If you are registered with any government department, then you must seek NOC to close the business operations etc.

Procedure

STEP1

Discussion and collection of basic Information

Provide required documents

STEP2

Review of the details and documents furnished

Drafting of necessary resolutions

Drafting of the affidavit, indemnity bond and other documents

Provide duly executed affidavit 7 indemnity bond

Provide signed documents after review

Step3

Preparation of applications for online filing

Filing of required forms and documents with MCA

Application for striking-off company name

Step4

Government processing time to approve strike-off

Advantages

It encourages you to spare each year consistence cost.

Spares you from rebelliousness punishments.

No More Headache of record keeping.

No more executive in Default.

Shutting an organization will keep you from superfluous IT requests

Documents Required to close a one person company

Incorporation Documents-Company’s MoA – AoA

Certificate of Incorporation

PAN card and other registration certificates

Financial Statements:-The latest financial statement of the Company

Identity & Address proof of Directors & Shareholders

Creditors: No objection certificate from Creditors(if any)

See Our Blogs

As per proviso to section 152(3) of the Companies Act, 2013 no company shall appoint or re-appoint any individual as director of the company unless he has been allotted a Director Identification Number (DIN) under section 154 or such other identification number as the Central Government may prescrib... Read More

Requirement for Having Director Identification Number

Every Form and return prescribed under the Companies Act, 2013 needs to be filed with the digital signature of the managing director or director or manager or secretary of the Company, therefore, it is compulsorily required to obtain digital signatures of at least one director to digitally sign the ... Read More

Is Digital Signatures Certificates are mandatory in case of Company registration?

The MCA vide the Companies (Amendment) Act, 2017 has inserted new section 3A w.e.f. 9-2-2018, vide Notification No. SO 630(E), dated 9-2-2018 to put liability on all the existing members of the company, in case the company defaults in minimum number of membersâ€™ criteria. If at any time the nu... Read More

What are the liabilities on members for having below minimum membersâ€™ strength?

The digital signatures are required to be registered at the website of the MCA for various category like director, professionals, etc. and need to fill up particulars online at the MCA portal, called roll check. Without complying with the requirement of Roll Check, any documents si... Read More

Is roll checks are mandatory for Directors inMinistry of Corporate Affairs website

There is no pre-condition for foreign promoters to furnish local address in India for seeking registration and incorporation of a limited company in India. It was held that there was nothing in the Act or the applicable Rules which requires the foreign promoters to provide a l... Read More

No need for address in India of Foreign promoters incorporating company in India

The liability of the member of the OPC may be limited or unlimited, and the Memorandum of Association of the OPC shall state,â€” (i) in the case of a company limited by shares, that liability of its member is limited to the amount unpaid, if any, on the shares held by the... Read More

What are the Liabilities of the subscriber in case of One Person Company?

It has been provided that the subscriber/member of OPC may at any time change the name of the nominated person by giving notice to the Registrar. It shall be the duty of the subscriber/member of OPC to intimate the company the change, if any, in the name of the person nominated by him by i... Read More

Can we Change in the nominee by the member of OPC?

Any such change in the name of the nominee person in the Memorandum of Association of the OPC shall not be deemed to be an alteration of the memorandum....

Change in the name of person nominated in the Memorandum shall not be deemed to be alteration in the Memorandum of Association

Can OPC Change in the nominee by the member of OPC?

By the Companies (Amendment) Act, 2015 effective from 29th May, 2015 the requirement of minimum paid up capital for a private limited company of `1 Lakh and for a public limited company of `5 Lakhs has been removed from the definition of the Companies under section 2(68) and 2(71) of the Companies A... Read More

Requirements of minimum paid-up capital

The objective of section 8 of the Companies Act, 2013 is to provide special benefits and privileges to such organisations, which are formed for the following purposes and where it is proved to the satisfaction of the Central Government that a person or an association of persons proposed to be regist... Read More

Main condition for Section 8 Company registration

Section 8(4)(a) provides that a company that has received a licence under the section, shall not alter the provisions of its Memorandum as regards its objects except, with the previous approval of the Central Government [Powers delegated to the Registrar of Companies by Notification No. 1353(E), dat... Read More

Restriction on alteration in the Memorandum and Articles of a charitable company licensed u/s 8

Rule 6 of the Companies (Incorporation) Rules, 2014 as amended vide the Companies (Incorporation) Amendment Rules, 2015, w.e.f. 1-5-2015 provides that where the paid up share capital of an OPC exceeds fifty lakh rupees and its average annual turnover during the relevant period exceeds two crore rupe... Read More

Mandatory Conversion of One Person Company into Private Limited or Public Company

OPC shall be required to convert itself, within six months of the date on which its paid up share capital is increased beyond fifty lakh rupees and the last day of the relevant period during which its average annual turnover exceeds two crore rupees as the case may be, into either a private co... Read More

OPC has to convert into Private or public limited company within 6 months

The Rajya Sabha passed the Companies (Amendment) Bill, 2020 on Tuesday. Union corporate-affairs-minister Corporate Affairs Minister Nirmala Sitharaman moved the Bill for passing in the Upper House today stating that the amendments divided into two compartments are focused on decriminalizatio... Read More

Rajya Sabha passes Companies (Amendment) Bill, 2020

See What Our Customers Say About Us

Sumit

It was decent involvement with Legalforever for convenient work also extraordinary help and guidance to begin my business...Great benefits in opportune way and subsequent meet-ups for return recording to spare my money...Thanks Again

Dipesh Kumar

Truly Professionalism .. Never expected that online procedure is so easy.. I have at first idea if going to exceptionally rushed process But I altered up my opinion to give an attempt with sulekh industries .Applications ...my Company is enrolled extremely fast....they still in contact with me. Continually illuminating my questions.. Much obliged for all you help

Gautam Singh

Great Service in affordable package.. Thanks for explaining the entire process of company registration initially..Now i have very clear idea about company.. paid the amount immediately after the explanation given.. My company is registered and thanks for clearing my doubts after registration as well....service was excellent.

Namit Jain

Thanks for your services. The Vishal and his team is really professional. They make sure that things are delivered in time. The best part about Legalforever is the consultative approach and guiding us on all our business matters.