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Whether private limited company has to file mgt14 for closing the company?

A B Kundu (Professional) (1422 Points)

27 April 2019

A private limited company with paid up capital of Rs.150,000/- is going to be closed and the resolutions have been passed accordingly in the board as well as in the EGM.

The query is, Whether the Company has to file MGT-14 to ROC regarding this? or being Private Limited Company it is exempted from this requirement?

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12 Replies

CA CS NITIN MAHAJAN (CA ) (273 Points)
Replied 28 April 2019

We have follow procedure for getting it closed. For details call @ 9779714156

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A B Kundu (Professional) (1422 Points)
Replied 28 April 2019

Originally posted by : CA CS NITIN MAHAJAN
	We have follow procedure for getting it closed. For details call @ 9779714156

Thanks for reply, but it would have been great help if you had given the answer of the question that I asked.

CA CS NITIN MAHAJAN (CA ) (273 Points)
Replied 28 April 2019

MGT 14 is required if
Special resolution is passed for closure of the company.
Under Section – 271 (1) (b)

A B Kundu (Professional) (1422 Points)
Replied 28 April 2019

Originally posted by : CA CS NITIN MAHAJAN
	MGT 14 is required if Special resolution is passed for closure of the company.Under Section – 271 (1) (b)

Resolution was not passed under the quoted section. It is going to close down its business voluntarily. So that means in this case the company doesn't have to file MGT-14 with ROC.

Thanks

Vatsla Alagh (1545 Points)
Replied 29 April 2019

Are you shutting the business by filing STK-2? Then MGT-14 is not required to be filed

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A B Kundu (Professional) (1422 Points)
Replied 29 April 2019

Originally posted by : Vatsla Alagh
	Are you shutting the business by filing STK-2? Then MGT-14 is not required to be filed

Yes, Form STK-2 along with affidavit and indemnity bond are to be filed.

Jatin Bajaj (CS) (2930 Points)
Replied 29 April 2019

As the striking of the Company needs the approval of Shareholders by passing Special resolution and pursuant to Section 117(3)(a), all the special resolution shall be filed with the ROC within 30 days of passing the Special resolution in Form MGT 14.

So it is mandatory to file MGT 14 by the Private Company even in case of Striking of the name of the Company

A B Kundu (Professional) (1422 Points)
Replied 29 April 2019

Originally posted by : Jatin Bajaj
	As the striking of the Company needs the approval of Shareholders by passing Special resolution and pursuant to Section 117(3)(a), all the special resolution shall be filed with the ROC within 30 days of passing the Special resolution in Form MGT 14. So it is mandatory to file MGT 14 by the Private Company even in case of Striking of the name of the Company

Are you sure? Because I read somewhere that MGT-14 is not applicable for Private Ltd. Companies. That's why I got confused and put the question here.

rohan workspace (66 Points)
Replied 29 April 2019

even in case of voluntary striking off u/s 248(2), filling of MGT-14 is necessary

A B Kundu (Professional) (1422 Points)
Replied 29 April 2019

Okay. Thank you.

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Jatin Bajaj (CS) (2930 Points)
Replied 30 April 2019

Section 117(3)(g) is not applicable to Private Limited Company, which states that in regard with the matter specified under Section 179(3), there is no need to file MGT 14 by the Private Limited Company .Rest of the Clauses of Section 117 is applicable to Private Limited Company as well.

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