Its common question arise once you registered a company without knowing the compliances of the corporate sector. After realization of the fact, wise individuals decided to wind-up company as earliest as possible to keep save themselves from further risk of mandatory obligations and liabilities arose because of continuation of company.
There is misperception in many minds that company dissolve automatically if not operated or failed to do compliances but the reality is entirely contrary to this assumption. An incorporated company has unlimited life until its wind-up through court order or voluntarily wind up by the members.
This fact should be remember while deciding to close company that your company registered with two departments: FBR & SECP and both departments work separately. Therefore, it’s necessary to file winding intention in both departments separately.
A general practice has been observed in the market that members assumed that if bank account not opened and subscription capital not deposited into the company account; this lead towards automatically de-register the company. This assumption is completely wrong.
Currently, winding-up through easy exit scheme can only be possible through offline procedure whose government fee is 10,000rs regardless of capital.
Easy Exit Scheme of SECP
- Cover Letter
- Form EE-1
- Members Resolution
- Auditor Certificate
- Affidavit worth of Rs. 200/-
- Bank Challan worth of Rs. 10,000/- ( Currently offline facility only available)