Edit Content

Close Pvt Ltd Company


Govt Fees 1000/-
Professional Fees 5000/-
Total 15000/-

Close Pvt Ltd Company

Simply put, liquidation is the process by which a company shuts down its activities. The company may decide to close down for a variety of reasons, including a refusal to continue operations, insolvency, and so on. The word ‘liquidation of a company’ refers to the process of selling a company’s assets. The company can sell its assets to meet obligations and repay liabilities.

If a company is liquidated due to bankruptcy, the liquidator can sell its assets to repay all pending liabilities. The remaining balance, if any, after repayment to the creditors, gets distributed among the shareholders of the company.


  • Board meetings should be convened for the approval of winding up a company
  • The appointment of an official liquidator or insolvency professional should be made
  • Simultaneously, an NOC should be obtained from the Income Tax Department
  • Before initiating a wind-up process, an intimation should be conveyed to the Insolvency and Bankruptcy Board of India (IBBI) within 7 days from the date of approval of the resolution
  • An announcement should be made to the public within 14 days of passing the wind-up resolution in an official gazette, one english newspaper and one local newspaper, where the registered company has been based
  • The whole winding up process should be completed within 12 months from the initiation of the liquidation

Documents Required

  • PAN card of the company
  • Certificate of closure of the company’s bank account
  • An indemnity bond, which should be notarized by the directors
  • Latest statement of company accounts
  • Statement of accounts related to all assets and liabilities of the company, audited by a chartered accountant (CA)
  • Proof of approval of the resolution by 3/4th of the board members
  • Application for removing the name of the company