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Author Topic: How to close a PVT Limited company  (Read 3879 times)

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Offline rajat_aggarwal

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How to close a PVT Limited company
« on: May 08, 2015, 12:54:35 AM »
Dear lawyers, Me and my partner incorporated a private limited company in December 2013 with the help of a CA. We ran into some losses while running the business and decided to wind up the operations in a matter of one year. During this period, we did not do any transactions by our business name. We did not open any bank accounts with the company name and we did not use the entity name for any of our transactions. Now we need to close down the company and the CA is asking for a fee of INR 30,000 for doing the same. He is saying that we have not filed any mandatory returns for the period between Dec 2013 and Apr 2015 and we need to pay some penalties. Is there a way we can escape the penalties? Also, what is the nominal charges for closing down the company (given the fact that we have been ignorant of not filing any returns during the said period)? Please help me out.

Offline dklegal

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Re: How to close a PVT Limited company
« Reply #1 on: May 08, 2015, 03:03:14 AM »
Dear Rajat,

For the purposes of closing down the company under the Easy Exit Scheme of MCA, it is essential that the company has not carried out any operations for last 1 year and does not have any assets and liabilities (which in all probabilities, the conditions seem to be fulfilled in your case). However, it is necessary that the company should have filed its balance sheets and accounts for the previous financial years, which in case have not been filed in your case will have to be filed now along with payment of late fees. Please also make sure with the CA if this INR 30,000/- is only his professional fee or does it include the official fee and the penalty amount required to be paid to the MCA during the entire process. If this amount is all inclusive, then this is quite reasonable.

Should you require, you may contact us at with the necessary details and we will try to help you out with closure of the company. We will be able to ascertain the fee only after knowing certain details from your end.


Dhruv Manchanda


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