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Closure of Company

The closure of a company involves the formal process of winding up its business operations and legally dissolving the company. This includes paying off any outstanding liabilities, distributing remaining assets to shareholders, and filing final tax returns. The company must pass a resolution to dissolve and submit the necessary documents to the Ministry of Corporate Affairs (MCA). The closure process also involves the company being struck off the official register maintained by the Registrar of Companies (ROC). Once the closure is complete, the company no longer exists as a legal entity. It is important that all legal and financial matters are settled before initiating the closure process to avoid any future liabilities or disputes.

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