Closure/Liquidation/Winding up of Company
CS ladda
Dear Friends,
Facts of the case:
a) ABC Company Private Limited
b) Wholly owned Subsidiary of PQR Company Private Limited (USA)
c) Company was formed in 2015 with Paid up share capital of INR 1 Lakhs
d) There is Trade Advance of INR 1 Crore from Holding Company in Liability side. And no other liability.
As there is no future progress found to company and due to suffering losses promoters wants to close the Company.
Query:
What should be ideal way which we should execute ?
i) Voluntary Winding up
ii) Strike off under STK route which can be possible if we maintain Company dormant in next two years (Not considering) because promoter wants to close chapter now permanently.
iii) File application under Insolvency and Bankruptcy Code, 2016 for VOLUNTARY LIQUIDATION OF CORPORATE PERSONS under Chapter V Section 59 ?
What will be ideal option to save money and time to get proper solution ?
Your valuable views are most appreciating.
With warm regards,
Pramod