Closure of a foreign subsidiary

vinita (CA Practice ) (35 Points)

24 June 2011  

Hi,

I would like to understand the avenues for closure of a subsidiary of a foreign company in India (constituted as a private limited company).  To the best of my knowledge, there are 3 avenues- latest exit scheme (FTS), transfer of shares of company and voluntary winding up of company, if they want to avoid the legal process. YThis is ofcourse if there are no liabilities and assets and there is no dispute in any court of law against the company. Kindly advise if my understanding is correct.    Also would be grateful if you can share you experience in similar matter as reagdrs time frame, procedures etc

Reagards,