In India, closing a Private Limited Company is possible in two different ways – compulsory winding-up and striking off. A closure is enforced when the Company fails to comply with a lot of mandatory compliances. Therefore, if a company is unable to carry out its business operations for a considerable period and does not expect it to revive shortly, it is better to shut down that Company and avoid penalties resulting from non-compliances.
Read More :- What is the process of Winding up a Private Limited Company?
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