What does mean by Closure of your Branch?

A Branch Company winding up can be initiated voluntarily or by a Tribunal. If a Branch Office is to initiate winding up voluntarily, then the Branch Office must pass a resolution to wind up the Branch Office with approval of at least three-fourths of the total number of Partners. If the Branch Office has lenders, secured or unsecured, then the approval of the lenders would also be required for winding up of the Branch Office.

To begin the process for winding up of Branch Office, a resolution for winding up of Branch Office must be passed and filed with the Registrar within 30 days of passing of the resolution. On the date of passing of resolution of winding up of Branch Office, the voluntary winding up shall be deemed to commence. IndiaFilings can help you wind up your Branch Office quickly and easily.

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  • Voluntary Winding Up:
      Branch Office can be wound up by Passing a Resolution.
      The Resolution should be Approved by minimum 3/4th of the Total Number of Partners.
      Resolution Must be Filed within 30 days of Passing Date with some Other Legal Formalities.
  • Compulsory Winding Up:-
      If number of Partners are below 2 for more than 6 months.
      If Branch Office is unable to pay it's debt
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