How to Wind up of a Private Limited Company in India
Winding up a private limited company is possible in a couple of ways in India. A closure is enforced when the business entity fails to comply with plenty of necessary compliances. So, if a company is not able to carry out its business operations for a considerable period of time and does not expect it to revive shortly, then it is better to close that firm and avoid penalties resulting from non-compliance. What are the Different Ways of Winding Up a Private Limited Company There are a variety of procedures for winding up a Pvt Ltd company. 1) Compulsory winding up of a company 2) Voluntary Winding Up of a Company 3. Fast Track Exit Scheme (FTE) 1) Compulsory Winding Up of a Company Tribunal is completely responsible for this sort of closing up. Some of the key reasons for the same are listed below. · Unpaid debts of company · Unlawful act by a company or the company's management ...