The directors and all company executives are free of any creditor liabilities and pressure once the liquidation procedure is completed.
If the resolution is passed by directors on a voluntary basis, the court or court will ignore legal action and provide corporate managers with a platform to focus on other commercial prospects.
The liquidation process costs or expenses are generally short, as charges applicable for the sale of assets.
When a firm or entity has entered a lease for a specified period, it shall terminate all terms and conditions of the lease during the winding-up procedure. If a penalty is payable, it is taken from the sale of assets.
Creditors will profit from the liquidation procedure after a long struggle since they will be entitled for a default payment based on all creditors' credit proposals.
Step 1: Passing the board resolution for closure of company
Step 2: Passing a special resolution by the shareholders to close the company
Step 3: Getting the approvals from the creditors
Step 4: Forwarding the declaration of solvency report to ROC
Step 5: Appointing of official liquidator
Step 6: Approval of liquidation report
Step 7: Submit the report with the ROC
Step 8: ROC approves the Closure
We make the process so easy and fast that you will not even feel the headache of all the paperwork, and our professionals will provide you all the promised deliverable within a given span of time.
All our professionals are qualified and specialized in that particular work. Making sure no mistakes are done at the time of filings with the authorities so that company won’t have to pay any penalties due to mistakes.
We support you throughout the journey of your business, from the incorporation, Accounting and taxation support, Secretarial compliance support, and Legal support.
We believe that cost plays a vital role in any company’s growth stage, that’s why we do not surprise our clients with hidden charges, you pay what you see in the initial proposal.