Closure of Business

Closure of Sole Proprietorship

Closing a sole proprietorship firm involves settling all business liabilities, paying off debts, and notifying relevant authorities. Key steps include:
– Settling all outstanding debts and liabilities
– Notifying the GST department and other tax authorities
– Canceling GST registration and other licenses
– Closing bank accounts and settling any outstanding balances
– Informing customers, suppliers, and other stakeholders
Closure of a sole proprietorship firm is relatively straightforward compared to other business structures. However, it’s essential to ensure all legal and tax obligations are met to avoid any future liabilities. The process requires careful planning and execution to ensure a smooth closure.

Mergers and Acquisitions
Corporate Compliance
Non-profit Corporations
International Corporate Law
Corporate Social
International Corporate

Closure of LLP

Closing a Limited Liability Partnership (LLP) involves several steps, including applying for dissolution, settling liabilities, and filing necessary forms with the Registrar of LLPs. Key steps include:
– Passing a resolution for dissolution by the partners
– Filing Form 24 and other required forms with the Registrar of LLPs
– Settling all outstanding debts and liabilities
– Obtaining a No Objection Certificate (NOC) from tax authorities
– Applying for cancellation of LLP registration
The closure process requires compliance with the LLP Act, 2008, and rules. Partners must ensure all legal and tax obligations are met, and necessary documents are filed to avoid any future liabilities. Upon successful closure, the LLP’s name is struck off the register.

Mergers and Acquisitions
Corporate Compliance
Non-profit Corporations
International Corporate Law
Corporate Social
International Corporate

Closure of Company

Closing a company involves a formal process, either through voluntary winding up or striking off. Key steps include:
– Passing a special resolution for winding up or striking off
– Appointing a liquidator (if winding up)
– Settling all debts and liabilities
– Filing necessary forms and documents with the Registrar of Companies (RoC) and National Company Law Tribunal (NCLT)
– Obtaining approval from the NCLT (if winding up)
– Applying for cancellation of registration
The closure process requires compliance with the Companies Act, 2013, and rules. Companies must ensure all legal and tax obligations are met, and necessary documents are filed to avoid any future liabilities. Upon successful closure, the company’s name is struck off the register. The process can be complex and time-consuming, requiring professional guidance.

Closure of Sole Proprietorship

Closure of LLP

Closure of Company

Closure of Business Services

Need Any Help?

Pages

Location

Phone

Email