Even if closing a private company is a hard deal, a loss making company needs to be restructured or closed. If restructuring is not a good option, then closing it down reduces legal and compliance cost, rent or any other out of pocket costs. Closing a company which is falling apart reduces the risk of losing the invested assets. There is no sense at all in running the loss-making Private enterprise just for compliance sake.
Through Fast-track Exit Mode, one can close a Company easily. Closure of the company is done voluntarily through the fast track exit scheme.
On the other hand, winding up of a company is forced by a court order and dissolution is initiated by a court after expiry of time period or after company’s mission is accomplished.
legalsyne can help with both closure of company and winding up of a company. We have nearly 2 decades of experience in setting up, registering and closure of LLP, OPC and proprietorship firms. Contact us to know how to close a company.