We have a Pvt Limited Company which is not doing any business since last ten years and has accumulated losses. There are no assets in the Company. There are confirmed dues of Sales tax and Central Excise pertaining to more than 10 years - there are no notices or recovery proceedings to our knowledge. The out standings are not due to any lapse or misconduct on the part of the directors.
We are complying with ROC and other formalities but continuing the same further and maintaining an office is becoming difficult.
Requesting the experts to suggest a way for winding up of the company.
Inactive Company with Unpaid Dues Explores Voluntary Winding Up; Faces Challenges Without Form STK-3 Submission. Seeking Alternatives. A private limited company, inactive for ten years with accumulated losses and no assets, seeks advice on winding up. The company faces confirmed sales tax and central excise dues but has received no recovery notices. Compliance with ROC is maintained, but sustaining operations is challenging. An expert suggests voluntary winding up by convening a board meeting, passing resolutions, and filing necessary forms with the ROC. However, the company cannot submit Form STK-3 due to unpaid dues. The company seeks alternative solutions, as no departmental communication has occurred for the past decade. (AI Summary)
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