How to wind up a Pvt. Ltd. Co. legally.

Querist : Anonymous (Querist) 11 January 2011 This query is : Resolved
Dear lerned experts. My question is how to wind up/close down a Pvt.td. Company.
I wopuld be greatful if the learned experts share their valuable knowledge with me.

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A V Vishal (Expert) 11 January 2011
There is a easy exit scheme under the ministry of corporate affairs upto 31st jan u can go for it, however without having a look at ur balance sheet it is difficult to advise.

R.Ramachandran (Expert) 11 January 2011
I completely agree with the views of Mr. Vishal.

Advocate. Arunagiri (Expert) 11 January 2011
What is the current status of the company?

Whether you are filing papers regularly?

Whether it is a defunct company?

Ajay Bansal (Expert) 12 January 2011
aGREED AS AFORESAID.

Querist : Anonymous (Querist) 12 January 2011
The Pvt Ltd Company was incorporated during British period having 12 share holders. It is actually a the then famous "Laundry" now closed for 10 years. They are occupying around 1 acre of land taken on lease in 1946 for 50 years. They did not pay PF, Gratuity to their eployees for long. Not paid other statutory levies. Few shareholders are not traceable. MD & one Derector want to release the leased land after taking Rs.50 lakhs to the owner of the land who wants to sell to a Developer. The best things one lawyer suggseted are
1) Wind up the Company & then return the space to the Owner or
2) Take over the Company by the owner or developer.

Kindly give your valuable suggestion as to how to wind up or how to take over under the above circumstances or any other suggestions. Regards

A V Vishal (Expert) 13 January 2011
Winding up will cost you costly, further going by the details provided, you cannot close this company under the easy exit scheme. Take the services of a local company secretary/chartered accountant or an advocate practising corporate laws to wind up the company.

R.Ramachandran (Expert) 13 January 2011
Well advised by Mr. Vishal.
If the Pvt. Ltd. company is situated in Delhi, perhaps we can handle it, if so desired by the party.

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