Overview of Close Public Limited Company
Under the Companies Act, A Public Limited Company is a company that has limited liability & offers shares to the general public. Its stock can be acquired by anyone, either privately through IPO (Initial Public Offering) or through trades on the stock market. This Company is strictly regulated & is required to publish its true financial health to its shareholders. However, running a business comes with its own challenges. Sometimes when things do not work out, a business may have to be shut down. There can be various reasons to wind up or close the Company. A Public Limited Company may shut down if the Company needs to undergo liquidation in order to pay off creditors or if the members of the Company want to close it.
Eligibility criteria for Close Public Limited Company in India
- Creditors’ Voluntary Liquidation : The Company and its shareholders chose to liquidate the Company because it can’t pay debts
- Members’ Voluntary Liquidation : There Company can pay its debts, but the members want to close it
Documents required to Close Public Limited Company
- Application for Striking off of the Public Company.
- Board Resolution approving the closure.
- Consent of Directors.
- Director’s Affidavit.
- Indemnity Bond.
- Statement of Assets and Liabilities.
- Form FTE (in case the FTE scheme is being applied under).
- Up to Date Form 8 & 11
FAQs About Close Public Limited Company?
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