Overview of Winding Up a Company

Winding up a company involves ceasing its operations, settling its debts, and distributing any remaining assets among shareholders. Companies can opt for voluntary winding up, strike off, or dormancy depending on their circumstances. Dhanvitt offers comprehensive guidance to ensure a smooth and compliant winding-up process.

Strike Off Process

Companies that have not been operational or have no significant financial transactions for a period may opt for a voluntary strike-off. This process involves filing Form STK-2 with the Ministry of Corporate Affairs (MCA) after passing a board resolution. Dhanvitt provides complete assistance with the application and ensures all requirements are met before filing.

Dormant Company Status

If a company plans to remain inactive but wishes to retain its corporate identity for future operations, it can apply for dormant status. This requires filing Form MSC-1 with the MCA. Dhanvitt helps companies apply for dormant status, ensuring all compliance measures are in place, including annual filings during dormancy.

Liquidation Process

In cases where a company has debts to settle or is insolvent, the liquidation process is required. Voluntary liquidation can be initiated by shareholders, while compulsory liquidation is court-ordered. Dhanvitt offers full support in managing liquidation proceedings, liaising with liquidators, and ensuring proper distribution of assets.

Filing Forms for Winding Up

The winding-up process involves various filings with the MCA depending on the method chosen—strike-off, dormancy, or liquidation. We ensure that all documents are accurately prepared and submitted to avoid penalties or delays.

Why Choose Dhanvitt for Winding Up?

• Expert Assistance: We handle all aspects of the winding-up process, from passing resolutions to filing forms and liaising with authorities.
• Tailored Solutions: Whether you are opting for strike-off, dormant status, or liquidation, we offer tailored guidance based on your specific needs.
• Compliance Management: Our team ensures that your company complies with all legal requirements throughout the winding-up process.
• Cost-effective Services: We provide competitive pricing while ensuring a hassle-free experience.

Documents Required for Strike Off

To initiate the strike-off process, the following documents are typically required:

• Board Resolution approving the strike off
• Affidavit and indemnity bond from the directors
• No objection certificate from creditors (if any)
• Statement of accounts certified by a Chartered Accountant
• Form STK-2 application for strike off

Documents Required for Dormant Status

The following documents are typically required to apply for dormant status:

• Board Resolution approving dormant status
• Certificate of no significant financial transactions for the last two financial years
• Form MSC-1 for dormant status

Documents Required for Liquidation

The following documents are typically required for liquidation:

• Board and Shareholder Resolutions approving liquidation
• Statement of assets and liabilities certified by a Chartered Accountant
• Form MGT-14 and other applicable MCA forms
• Appointment of liquidator (for voluntary liquidation)