Business Closure – Everything You Need to Know
Business Closure is the legal process of shutting down a business permanently while ensuring compliance with all regulatory and financial obligations. Whether due to financial difficulties, strategic changes, or business restructuring, proper closure prevents future liabilities, penalties, and legal complications.
10000+
Happy Customer
300+
CA, CS, Lawyers
2+
Offices
🏢 Overview
Business Closure refers to the legal process of shutting down a business entity permanently, ensuring compliance with regulatory authorities. Whether due to financial challenges, operational inefficiencies, or strategic decisions, proper closure helps avoid future liabilities, penalties, and legal complications.
🔑 Key Highlights
✅ Legally terminate business operations to avoid penalties.
✅ Settle all outstanding debts and liabilities before closure.
✅ File necessary documents with government authorities.
✅ Protect business owners from future liabilities by legally dissolving the entity.
✅ Cancel tax registrations, licenses, and bank accounts to complete the process.
Services We Offer
✅ Winding Up of Private Limited Company
✅ Closing a Limited Liability Partnership
✅ Revival of Struck Off Companies
📂 Required Documents
🔹 Business Registration Certificates (GST, PAN, CIN, etc.)
🔹 Financial Statements (Last 3 Years, if applicable)
🔹 Board Resolution or Partner Agreement for Closure
🔹 No Objection Certificate (NOC) from Creditors (if applicable)
🔹 Tax Clearance Certificate from Income Tax Department
🔹 Bank Closure Certificate for Business Accounts
🔹 Employee Settlement and Final Compliance Reports (if applicable)
🔹 Regulatory Approval Documents (if required for specific industries)
✅ Eligibility
Minimum Members Required:
🔹 Sole Proprietorship – Closure through tax and registration cancellation.
🔹 Partnership Firm – Dissolution with partner consent and legal formalities.
🔹 Limited Liability Partnership (LLP) – Closure under LLP Act compliance.
🔹 Private/Public Limited Company – Strike-off or liquidation based on financial status.
🔹 One-Person Company (OPC) – Closure through voluntary winding up.