winding up

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Querist : Anonymous

Querist : Anonymous (Querist)

18 February 2011 How to wind up a pvt ltd company not doing business from past 1 year, without the appointment of a liquidator?

parthasarthy naidu

parthasarthy naidu (Expert)
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19 February 2011 The company should avail the facility of easy exit scheme announced by the Government. In order to give an opportunity to the defunct companies for getting their names strike off from the register of companies, the Ministry of Corporate Affairs had launched a scheme, namely easy exit scheme 2010 under section 560 of the Companies Act, 1956. The scheme has come into force from 1st January,2011 and is still open to facilitate such companies to take the benefit of the scheme.

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Querist : Anonymous

Querist : Anonymous (Querist)

19 February 2011 But the co. does not fall under the category of Defunct companies.
Can it declare itself as a defunct company?

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ADITI BIDASARIA

ADITI BIDASARIA (Expert)
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19 February 2011 As per Easy Exit Scheme, 2011,
“defunct company” means a company registered under the Companies Act, 1956 which is not carrying over any business activity or operation on or after the 1st April, 2008 and includes a company which has not raised its paid up capital as provided in sub sections (3) and (4) of section 3 of the Companies Act, 1956;

It means your Company does not fall under the aforesaid criteria of defunct Company and does not opt for the Easy Exit Scheme 2011.

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Querist : Anonymous

Querist : Anonymous (Querist)

21 February 2011 Yes..as the company has discontinued its business from past 1 year, but the Easy Exit Scheme requires minimum 2 years.So it does not fall under this category.Is there any other easy way out?