Transfer of property after closure of pvt ltd co

Sandip Pal (Querist) 06 December 2022 This query is : Resolved
Namaskar,

I hold a 99% share of a Pvt Ltd Co, and my wife is having the rest. A few years back we purchased office space in the name of the Pvt Ltd Co.. Now, due to some unavoidable circumstances, we want to wind up the company. We do not have any bank loans or creditors in the market.

It would be helpful if someone could let me know the procedure to transfer the property (i.e. office space) from the name of the company to the name of the existing directors (i.e. myself & my wife).

Regards,

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Quick Summary

A 99% shareholder and his wife, who own a private limited company, are looking to transfer office space purchased by the company into their names after winding it up. They have no outstanding debts. The process involves passing a special resolution, appointing a liquidator via the Registrar of Companies, and submitting necessary forms. Professional advice from a local Chartered Accountant (CA) or Company Secretary (CS) is recommended for navigating the liquidation and transfer procedures.

kavksatyanarayana (Expert) 06 December 2022
The company shall conduct a special resolution to wind up the affairs of the company and the proposals shall be submitted to the Registrar of Companies of the state. The Registrar of Companies appoints a liquidator and after receipt of the report, the Registrar may issue winding-up orders. But you have to submit some forms. So consult a local CA or CS for further guidance.

Dr J C Vashista (Expert) 07 December 2022
I concur the opinion and advise of senior expert Mr. Kavksatayanarayana ji.

Raj Kumar Makkad (Expert) 17 December 2022
Liquidate bank accounts, balance-sheet, stock etc. and then only apply for liquidation of company through CA/CS.

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