Close A Company Services

company can be closed by adopting the following ways:-

(A) Strike off a company under Section 560 :

Section 560, of the Companies Act, 1956, deals with strike off provisions of a defunct company. Any defunct company desirous to strike off its name from the register of Registrar of company can apply in Form FTE for strike off its name from the register maintained by ROC as per Guidelines for ‘FAST TRACK EXIT MODE’ issued vide General Circular No. 36/2011 dated 7.6.2011. Similarly, ROC has also power to strike off any defunct company after satisfying himself of the need to strike off a defunct company and has reasonable cause. But before passing any order in this regard, an opportunity of being heard must be provided to the defunct company by following the due procedure u/s 560.

(B) Winding up-

Section 425 of the Companies Act, 1956 lays down the above three modes of winding up and provides that the provisions of the Act with respect to winding up shall apply, unless the contrary appears, to the winding up of a company in any of these three modes.

1. By the Court i.e. compulsory winding up;

2. Voluntary winding up, which may be either:

        (a) Members’ voluntary winding up; or

        (b) Creditor’s voluntary winding up;

3. Winding up subject to the supervision of the Court.(omitted and the same is yet to be notified)

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