Closure of Private Limited Company
Winding up is a tedious process and can be done.
- either voluntary by calling up a meeting of all stakeholders and passing a special resolution;
- can be done on the order of Court or Tribunal.
“Strike Off” mode was introduced by the MCA to give the opportunity to the defunct companies to get their names struck off from the Register of Companies. There are two ways of strike off:
- ROC may remove Company’s name from Register on sue-moto pursuant to Section 248(1) of Companies Act, 2013.
- Application for removal of name of company An application can be made by Company for removing its name from Register under Section 248(2) of the Act by submitting Form STK-2.