Company Winding Up Procedure in Pakistan
Here it is mandatory to explain the company winding up procedure in Pakistan. the legal process by which the an incorporated company / registered company is brought to an end is called as winding up. Normal the term ‘winding up’ of a company is treated or explained as the process by which a company is closed. When any company is applied for winding up, means the management of the company is no more to run the operation of the company. When the process of winding up of a company starts, the assets of the company are disposed of, the debts of the company are paid off out of the assets sold
We also called it ‘‘liquidation’ of the company’. normally people use the word ‘dissolution’ it is only used when partnership firm is come to an end or closing of business.
Process of winding up of a company:
- Court decision or order passed by the honorable court for winding up of company
- Voluntary winding up
If you are not running your company properly and intend to winding up or closure of business, it is your sole responsibility to apply as soon as possible to wind up the company, dont delay, if you are not properly working, otherwise, you have to face the penalties or fine, in case of, not applying for winding up on time, SECP is the only authority who register as well as wind up the already registered companies.
Documents required for winding up of company
- Board Resolution
- Company winding up forms
- Appropriate Fee
- Financial accounts & Letter from Chartered Accountant / Audit firm
Time Duration of Winding up:
Company Registration office will take around 4-6 weeks for winding up the company.
Winding up of company Fee
Rs. 10,000/-is the official fee, it may be vary.
you may contact us for your company winding up as well as activation of your seized company.