The start of every company is backed with the vision to remain functional forever. However, not all businesses remain successful in the long run. In general, there is a specific procedure to run a company and the same goes to close the company. There are two ways to close the company best strike-off Company Services in Delhi and winding of company. Although these two methods to close the company might seem similar in the first view, there are significant differences. In this article, we will explore the process of striking off a company in Delhi and guide you through the steps involved in successfully closing your business through the strike-off method.
It is an unfortunate scenario that a company is closing in the practical life. But, the process to strike off a company can be an overburdened and hectic task for anyone. The best Company Strike off services in Delhi can help provide consultation as well as assistance for the company closing services.
A company strike-off simply means dissolving a company that is no longer required. The company can be registered as a sole proprietor, limited liability partnership, or private limited organization. The owners need to follow a specific Procedure to strike off a Private limited Company if they’re sure to close it.
There can be certain reasons for the strike-off of a Company including ceasing trading, retirement, or no reason to run the company anymore. Striking off a company is enforced upon the management and hence also known as compulsory strike off.
A company director can share the volunteer request for striking-off a company by filling a DS01 form to Companies House. The business administration needs to pay the appropriate administration fee. The gazette will be released with the notice declaring the intention to close the company.
The business administration needs to pay the appropriate administration fee. The gazette will be released with the notice declaring the intention to close the company. The timeline for this entire process of 60 days. If no objections are received in this timeline, the is successful. Now, the company’s name will be removed from the register of Companies House and will cease to exist as a legal entity.
It is a quick and cheap process to strike off a company as compared to other processes. However, not all companies follow this approach, but only those having certain circumstances. Best Strike off company Services is a pretty simple and informal approach to the closing company having no remaining debt, Substantial assets, and legal proceedings. It can also be closed down most suitably and efficiently.
Whether your company is in debt or has significant money or assets remaining, strike-off is not going to be favorable in such scenarios. Although, there are certain official procedures helpful in this case. You can utilize them to close down your company as per the financial position at the time of closure.
In case you wish to close an LLP business, you need to defunct and remove the name from the LLP register. Make an application to the registrar of companies via e-form 24 as per the closure under the LLP act. The closure application of LLP can be sent as per the voluntary winding up of the company. It should also be accountable to note if LLP has done any business for the previous year or more. When it comes to the procedure to strike-off LLP, it is pretty simple than any other company formation and category.
You can also submit the fast-track exit scheme for LLP after completing the previous returns of form 8, form 11, and ITR. Filing the required closure documents is essential for availing the best striking off company services in Delhi. If the business has not done any business since the incorporation, there is no need to submit any closure documents. You can also submit a fast track exit scheme of LLP in form 24 of LLP after closing the business activity. The first and foremost step is to close the current bank account used for the LLP. The LLP strike-off application must include all mandatory attachments, such as affidavits and indemnity bonds, signed by the designated and associated partners. These can be affidavits And indemnity bonds confirmed with the consent of the associated and designated partners. As you’ve applied to strike off the LLP company, the registrar of companies can put the LLP website and name for general public notice for more than a month. The company name will be completely dissolved from the registrar database after 30 days.
If an LLP company is kept active, the owner needs to handle the annual filing of Form 8, Form 11, and Income Tax. You need to take care of the burden of mandatory compliance for dormant LLP organizations.
Just like the process of striking off an LLP, there is also a provision to revive it under specific conditions through the NCLT. The usual responsibilities of reviving companies lie in the NCLT under certain grounds as mentioned below –
Below mentioned are some of the documents to be accompanied by striking-off companies.
Once the NCLT releases the order to revive the name of the company, the organization needs to fill out a certified copy of the order within 30 days. The copy should be filed with the e-Form INC. The best company strike off services in Delhi can also help in filing the pending annual financial statements and reports to ROC.
No matter if the LLP is doing business or not, still there is a need to take care of the annual filing. There can be late fees or penalties if the business tax and other compliance are not taken care of.
The procedure of winding up an LLP company is pretty straightforward. All the partners need to sign a few documents and make the submission online to complete the concerned process. The closure of an LLP business requires no physical presence and can be conveniently completed online through a streamlined process. Apart from these, there can be certain other reasons for striking off a company as well. However, no matter what’s the reason, you can always follow the seamless procedure to strike off an LLP company for hassle-free processing.
Follow the below-mentioned steps to close your LLP Company –
Step 1: Cease Commercial Activity.
Step 2: Close Company Bank Account.
Step 3: Prepare Affidavits, Documents, & Declaration.
Step 4: File Any Pending Documents or Returns.
Step 5: Receive Chartered Accountant Certificate
Step 6: File LLP Form 24.
One needs to file the e-Form 24 along with additional documents to strike off an LLP business Company – Statement disclosing all sorts of assets and liabilities under the supervision of a Chartered Accountant. The date of the disclosure should be not more than thirty days after filing e Form 24.
Likewise the procedure to strike off LLP, you can revive the same as well. The usual responsibilities of reviving companies lie in the NCLT under certain grounds as mentioned below –
Below mentioned are some of the documents to be accompanied by striking-off companies.
Once the NCLT releases the order to revive the name of the company, the organization needs to fill out a certified copy of the order within 30 days. The copy should be filed with the e-Form INC. Top company strike-off services in Delhi can also assist in filing pending annual financial statements and reports with the ROC to ensure full legal compliance during the revival process.