One Person Company Closure in Bangalore
In Just 15 days . From Any where in India. In just 3 Simple Steps
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As the name suggests, an OPC or One Person Company is a business format where a single person owns the Company. There is no more than a single director or more than a single member. Being a single-handled company, an OPC is easy to manage. If you are an entrepreneur who seeks singular success, you can register as an OPC in India.
- It is simple to obtain funds.
- Implementation is simple.
- Legal standing.
- Succession indefinite.
- Simple to use.
- Compliances are lower
How to Register?
- Passing a resolution with consent of the 2/3rd number of the creditors of the OPC, for voluntary winding up of the company
- The notice of this board resolution is to be submitted to the related registrar of companies within the 10 days of its approval from the creditors. A declaration is also needed to be submitted which contain the information that the OPC has no debts, or if there are some debts, these will be paid off through sales of its assets within one year.
- Filing the application for striking off the OPC in Form STK-2 with the concerned registrar of companies, along with the attachment of Board Resolution in favor of winding up, in case, STK-2 Form can be file in the case when the closing OPC has been inactive for one year after its incorporation, within the 30 days from the date of signing the statement of assets and liabilities of the closing OPC.
- The notice for winding up is also to be advertised in the Official Gazette and also in a newspaper which is commonly circulated in the district where the head office/registered office of the closing OPC is situated. Appointing a registered Liquidator for processing of necessary tasks associated with the winding up of the OPC. This liquidator is required to maintain and submit all required reports and accounts that is Submission of the Statement of Accounts, Statement of Assets and Liabilities, Indemnity Bond, etc to the Tribunal and also to the Registrar of companies.
- Lastly, if application is satisfactory, the Tribunal and the Registrar will pass the winding up, and announce the OPC closed.
- Application for Striking off of the One Person Company – The Company that wishes to close must file a closing application with the Registrar
- Board Resolution for closure – The One Person Company must submit the resolution of closing approved by the board members
- Consent of Directors – A letter of consent from the Directors stating their opinion to close the One Person Company must be submitted
- Director’s Affidavit
- Indemnity Bond
- Statement of Assets and Liabilities – A financial statement indicating the sale of assets and cleared debts must be submitted
The registrar of companies (RoC) across India expect applicants to follow a few naming guidelines. Some of them are subjective, which means that approval can depend on the opinion of the officer handling your application. However, the more closely you follow the rules listed below, the better your chances of approval. First, however, do ensure that your name is available.
If you have all the documents in order, it will take no longer than 15 days. However, this is dependent on the workload of the registrar.
No, new company registration is a fully online process. As all documents are filed electronically, you would not need to be physically present at all. You would need to send us scanned copies of all the required documents & forms.
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