Close a Company
Closing a company, whether in India or elsewhere, can be a challenging yet important process. We can navigate you and help you close a company faster and easier.
Wazzeer exceeded my expectations! Their legal team swiftly resolved my contract issues, ensuring a seamless experience. Highly recommended for top-notch service!
Sreedhar Bevara
Accounting made stress-free! Wazzeer’s experts streamlined my finances, maximizing my tax benefits. A trustworthy platform for entrepreneurs. Thanks a lot to the entire team.
Abhijit Roy
Outstanding legal advice! Wazzeer’s team of experts proved to be true professionals, guiding me flawlessly through the intricate incorporation process. From the initial consultation to the final paperwork, they displayed remarkable expertise and dedication. Their personalized approach and attention to detail instilled confidence in me, making the entire experience stress-free.
Atul Shree
Compliance worries? Not anymore! Wazzeer’s compliance services are reliable and saved me time and effort. Impressed by their efficiency!
Marc Rouhana
Efficient and professional support throughout! Wazzeer’s experts simplified complex accounting tasks, proving their dedication to customer satisfaction. Moreover, their responsiveness to queries and updates on the progress were impressive. Wazzeer’s comprehensive services were worth every penny invested. I can wholeheartedly recommend Wazzeer to anyone seeking reliable and efficient legal solutions for their business needs.
Priyank Tiwari
We have been very pleased with the services being offered by Wazzeer.com. Best part is that you have a dedicated account manager who takes care of all your legal, accounting, compliance, audit related services, so instead of dealing with 4-5 professionals you deal with just one individual.
Vaibhav Pandey
What is Closing a Company?
Closing a Company means shutting down its operations and ceasing all business activities. This can happen for a variety of reasons, such as bankruptcy, insolvency, or simply a decision by the owners to retire or move on to other ventures. It often involves a formal process of winding up affairs, paying off debts, and distributing any remaining assets to shareholders or creditors.
Process of Closing a Company
Step 1: Share Documents and Requirements
Share your requirements and the list of documents mentioned below.
Step 2: Passing the board resolution
A board meeting needs to be conducted and a resolution needs to be passed for closing the company.
Step 3: Wazzeer will share draft documents
Wazzeer team will prepare draft documents on which signatures will be required of current directors/shareholders
Step 4: Wazzeer will obtain Indemnity bond and Affidavit bond
Indemnity and Affidavit Bond has to be duly notarised by all directors
Step 5: Clients to share executed documents
Clients would have to sign and seal the necessary documents and send them to us.
Step 6: Filing of e-form with ROC
We will help with filing and submitting e form to the Registrar of Companies for closing foreign subsidiaries.
Step 7: Sharing deliverables
Documents Required to Close a Company
- Copy of Bank account closure certificate from Bank
- Affidavit
- Indemnity Bond
- KYC documents of all directors
- Statement of Accounts from CA (NIL Balance sheet)
- Closure Resolutions and Declarations of Consent from Members and Directors
Key Deliverables
- Resolutions and Filed e-forms
- Challan
Why choose Wazzeer?
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One platform for all your requirements
Incorporation is just the first step. Wazzeer supports you throughout your journey as an entrepreneur. Log in to get things done efficiently. A dedicated Account Manager offers the required human touch and acts as an advisor to you.
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Experienced professionals
Our professionals have at least 5 years of experience and have incorporated thousands of companies among them. The rich experience ensures that the process is smooth and right in the first go.
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Defined process
Over the last few years, doing over 500 incorporations, we have defined every step of the process. A virtual process is in place enabling us to deliver hassle free experience for you.
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Cost Effective
You pay what you see in the proposal. No surprises or hidden charges.
Frequently Asked Questions
Can I close a company with debts?
Only the companies that are declared insolvent can close with outstanding debt not otherwise.
How to close a company?
A company can be closed in the following ways:
- Strike off a company under Section 560:
- Winding up
- Voluntary winding up
- Overview of winding up
How to close a company through winding up?
Section 425, of Companies Act, 1956, deals with modes of winding up.
The winding up of a company may be either:
(a) By the Tribunal (also known as compulsory winding up)
(b) Voluntary winding up
(c) subject to the supervision of the Court
What are the documents required for company closure?
Document required for closing a business:
- All Income tax returns filed with ROC.
- Resolution from the board of directors authorizing the closing of the business.
- Indemnity Bond from all the Directors of the company.
- An affidavit from all the directors of the company.
- Financial Statements with NIL Liabilities.
Who can close a company?
When all the directors and shareholders of the company mutually agree to close a company then upon receiving the application ROC closes the company.