One Person Company Closure
One Person Company is a business substance kept running by a sole proprietor with the advantage of restricted obligation. One Person Company is a different legitimate element from its individuals, offering assurance to its investors.
Each One Person Company must assign a part for the Directorial position in the MOA/AOA, if there should arise an occurrence of nonattendance of the prime Director.
Prerequisites for shutting One Person Company
Shutting of One Person Company is either intentional or by the court. Any One Person Company, which has been out of commission for over a year from its date of joining, can apply for shutting of the Company.
It is important to record shutting application with the Registrar as it should be refreshed and the Company is free from every single lawful consistence and formally shut.
Method for One Person Company Closure
The accompanying records are to be submitted to close a One Person Company.
- Application for Striking off of the One Person Company – The Company that desires to close should document an end application with the Registrar
- Board Resolution for conclusion – The One Person Company must present the goals of shutting affirmed by the board individuals
- Assent of Directors – A letter of assent from the Directors expressing their conclusion to close the One Person Company must be submitted.
- Executive’s Affidavit
- Reimbursement Bond
- Proclamation of Assets and Liabilities – A fiscal summary showing the sold of advantages and cleared obligations must be submitted.
The utilization of shutting the One Person Company must be documented with the Registrar inside 30 days of marking the announcement of benefits and liabilities.
Following documents are required:
- ID and address proof
- Statement of accounts
- Indemnity Bonds
- Other documents
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