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Private Limited Company Closure in Bangalore

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Brief of Private Limited Company Closure

Under a provision in the Companies Act that provides an alternative to the commonly used liquidation procedure under India’s bankruptcy code, the Ministry of Corporate Affairs notified rules 2020 for winding up small businesses without having to go to a tribunal. In India, the scope of company law is unrestricted and extensive; it takes into account the depth of a company’s liquidation and the liquidation of its assets. If their representatives fail to comply with the laws and regulations, they can be held civilly or criminally liable while ‘winding up a company’.


A private limited company may be wound up in one of two ways. As follows:

Voluntary winding up:

A voluntary winding up may be initiated by a special resolution or a resolution adopted at a general body meeting. To compel the winding up, the provisions and conditions of the Memorandum of Association (MOA) may be violated.

Compulsory winding up:

To carry out the compulsory winding up of a company at the command of a tribunal or a court, a specific resolution by the directors urging a court intervention may be passed during the firm's board meeting. Similar to this, the corporation must be forced to dissolve if any official files a petition with a court or a tribunal or if it engages in any illegal or fraudulent activity.


Documents Required

  • A list of people auditing the hearing: Form Comp 4
  • Preparation of Preliminary Report by IP
  • Submission of Proof of Claim in Form B, in Form C, Form D, Form E, Form F, by post or by Electronic means.
  • PAN Card of the corporation
  • Declaration of the termination of the company’s bank account with NIL contracts.
  • An indemnity bond, which should be notarized by the directors
  • Latest statement of company accounts.
  • Statement of reports related to all assets and liabilities of the company, audited by Chartered Accountant (CA)
  • Application for extracting the name of the company.
  • Indemnity Bond from all the Directors
  • Ultimately ITR and Returns Filed with ROC
  • Winding up petition: Form Comp 1
  • Declaration of truth: Form Comp 2
  • Certification of service: Form Comp 3
  • Announcement of winding up petition

Why Bizivalue ?

Registering a company offers many benefits. A registered company makes it genuine and increases the authenticity of your business.

Shields from personal liability and protects from other risks and losses.
Attracts more customers
Procures bank credits and good investment from reliable investors with ease.
Offers liability protection to protect your company’s assets
Greater capital contribution and greater stability
Increases the potential to grow big and expand
You will also get Zero Balance Current Account


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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