An inactive or dormant company can be wound up to avoid annual compliance formalities and penalty for non-compliance. Traddewell Advisory Services offers winding up of a private limited company from Rs.24899/-
A private constrained organization is a fake legal individual and requires different compliances like arrangement of Auditor, general documenting of salary expense form, yearly return recording and the sky is the limit from there. Neglecting to keep up consistence for a Company could bring about fines as well as debarment of the Directors from joining another Company. In this manner, if a private constrained organization has gotten to be dormant and there are no exchanges in the organization, then it is best to twist up the Company. To empower latent private restricted organizations to rapidly shut or slow down, the Ministry of Corporate Affairs has presented Fast Track Exit Mode - a less demanding approach to close dormant organizations at a less expensive cost with lesser customs. An outdated organization which has not did any business action or operations for most recent one year or since consolidation and having NIL resources and risk can apply for stricking-off of name under the Fast Track Exit Mode. Tradewell Advisory Services can help you twist up your Company rapidly and effortlessly.
An organization is a legitimate substance and a juristic individual set up made under the Companies Act. Thusly, an organization required normal support of Compliance all through its lifecycle. Quick track exit utilized can be utilized close an organization that is not dynamic and maintain a strategic distance from consistence obligations.
A company that doesn't file its compliance on time incurs fines and penalty including debarment of the Directors from starting another Company. Hence, it is better to officially wind up a company that is inactive and avoid potential fines or liabilities in the future.
The fast track exit scheme was specifically introduced by the Government to make it easy for inactive companies that have NIL assets and liabilities to close down or wind up. Hence, the formalities for winding up of a company under fast track exit scheme is easy to complete.
A company can also be closed under the fast track exit scheme quickly in about 90 days, whereas traditional methods take longer and are more cumbersome. Hence, closing a company under fast track exit scheme is faster and easier.
When compared to maintaining compliance for a dormant company, it might actually be cheaper to wind up a company and incorporate again when the time is right. IndiaFilings can help you wind up a company starting from just Rs.25000 all inclusive fee.
Companies that have no activity or transaction since incorporation can be quickly and easily closed under the fast track exit scheme. This allows the promoters to be hassle free with respect to compliance and open another company in the future when required.