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For winding up business

Documents For winding up business

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Reasons To Close Business Properly

Mandatory Compliance

Before you go ahead and complete the closing of your business, the law requires you to adhere to some mandatory compliance such as clearing pending finances of all employees, vendor payment, etc.

Avoid Fines

Having your business shut down with proper documentation allows you a chance to avoid fines.

Saving Operational Costs

When you adhere to a set of rules when closing down your business, you save a lot in terms of operational costs.

Savings in Time

When consulting a trustworthy firm to wind up the business, you save a lot of time while completing all the legal requirements in time.

Easy & Fast To Close

With a streamlined process laid out before you, you can easily close the business at a faster rate.

Winding Up Different Types of Businesses

  • Sole Proprietorship Firm: Shutting down a sole proprietorship is fairly easy as compared to corporation partnership given the fact that there is just one party controlling everything.
  • Partnership Firm: Dissolution of the partnership firm can require anywhere between 15 days to a month depending on the legal proceedings.
  • One Person Company: The procedure for closing an OPC is termed as Strike Off that is completed under new rules laid down by Companies Rules, 2016.
  • Limited Liability Partnership: The closure process for LLP companies is completed in two different stages which include winding up and dissolution.
  • Private Limited Company: Any private limited company is required to be closed when there is no exchange happening between the company directors or no operations are being conducted.
  • Public Limited Company: Public Limited Companies are usually closed voluntarily by its shareholders or under judicial compulsion.
  • Nidhi Company: Winding up the Nidhi Company requires special resolution or consent acquired from a minimum of 75 percent members/shareholder of the company.
  • Producer Company:  The prime purpose for the closure of a producer company is the realization of assets and payment of the pending debts.
  • Section 8 Company/NGO:  Winding up a Section 8/NGO company requires a series of legal requirements to be adhered to as opposed to following the Strike Off process.
  • Indian Subsidiary: Indian subsidiary company when required to be closed needs to go through a stringent process with multiple derivative type actions.
  • Special Entities Like (Society & Trust): The closure of trust/society companies require the officials to undergo a lengthy process that starts with passing a resolution and ends with a formal approval by the Registrar and CIT.

  • Standard Package
  • 10299 __
  • Private Limited Company Strike off
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  • Premium Package
  • 20999 __
  • Public Limited Company Winding up
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