Winding up of a company means close / shut down your company. If a company has remained no reason to stay then they can easily wind up your company. As any kind of company start with a procedure then it can be closed on the procedures established by statue only.To close a company, some law should be followed which is mentioned under the Companies Act, 2013 or any other Act of the company. The application form of closure has to be filled as per the procedure established under the law. There are basically two main methods of it.
For active company, where there are Assets and Liabilities, file an application under Insolvency and Bankruptcy code 2016 (IBC) before the National Company Law Tribunal. Tradenfill is experienced to handle winding up petitions at all benches of NCLT.In case your company is inactive for past two years or company did not start its operations within one year of its incorporation and there is no liability as such, then the company can be closed by filling form STK-2 along with some government fee.
Kinds of Company can be closed with STK-2 Form
There are many kinds of company which can be closed with this STK-2 Form like;
- Those companies which not commenced operations.
- Those companies which are inactive since past two years.
- When any company has nil assets and liabilities.
- No Litigation Pending.
Documents of Company
These are the required documents which are so mandatory for winding up a company:
- All ITR and return filed with ROC.
- Board Resolution Authorizing the closure.
- Required Affidavit from all directors.
- Indemnity bond from all the directors.
And, some financial documents are also required for winding up a company.
- Bank Account Closure Proof Account Closure Proof.
- Financial Statement with NIL Liabilities.
Process of Winding Up a Company
There are some steps which comes in the process of winding up a company:
- Take decision in the shareholders meeting.
- Surrender of Registration and Licenses.
- Bank account closure and prepare financial statement.
- Affidavit and Indemnity Bond of all Director.
- Filing of STK-2 Form.