How to shut down a private limited company in India?
Here are the procedures for shutting down a private limited company in India.
1. Up-to-date returns (viz., Annual Return and Balance sheet) has to be filed with Registrar of Companies (ROC)
2. A statement of account has to be prepared one month prior to the submission of application u/s 560 stating that no assets and liabilities except share capital and P&L debit balance.
3. An Affidavit needs to be executed (Rs. 20 Stamp Paper) and to be notarised (signed by for all directors)
4. An Indemnity to be executed (Rs. 100 stamp paper) (signed by all directors)
5. If there is any unsecured loan, then waiver letter should be submitted.
Timeframe: About 2 months
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