The closure of a Private Limited Company or Pvt Ltd Company can be a complex and time-consuming process, but it's important to follow the proper procedure to avoid any legal complications. The first step in the Pvt Ltd Company Closure Process is to convene a board meeting to discuss and approve the closure of the company.
Once the board has approved the decision, a special resolution needs to be passed and filed with the Registrar of Companies (RoC). The resolution should include details such as the reason for the closure, the date of the board meeting, and the date of the general meeting where the resolution was passed.
Next, the company needs to settle all outstanding liabilities with creditors, employees, and shareholders. The assets of the company need to be liquidated, and any remaining funds should be distributed among the shareholders according to their shareholding.