Cancellation of Section 8 Company – Guidance by GST Suvidha Centre
What is Cancellation of Section 8 Company?
Cancellation of Section 8 Company means legally closing the non-profit organization registered under the Companies Act, 2013. It is necessary, if the NGO or Section 8 Company is no longer operating, or if it can no longer achieve the object for which it was established. GST Suvidha Centre provides total support for Cancellation of Section 8 Company Online and makes it easy, quick, and legally compliant.
Why should you cancel a Section 8 Company in India?
If your Section 8 Company has become dormant or unable to conduct its objects, the only legally acceptable course of action is to close it down. There are penalties associated with non-compliance with the Ministry of Corporate Affairs (MCA) instructions. Cancellation of Section 8 Company in India will ensure legal closure and deletion of the organization’s name from the MCA record. GST Suvidha Centre makes sure you complete the process without any legal complications.
Reasons for Cancellation:
- No Activities or Inactive Operations
- Lack of Funding or Donations
- Non-Viability of Objects
- High Compliance Burden
- Internal Disputes
- Completion of the Purpose or Objective of the Company Achieved
- Voluntary Decision by Members
What is the process of closure of a Section 8 Company online?
For closing a Section 8 Company, the company is first converted into a normal company and the license is surrendered before the governing authority. The company is required to be mandatorily converted into a private/public limited company (except in cumpulsory winding up by NCLT)
Steps for Conversion into a Normal Company
- Board Resolution & Special Resolution in the general meeting for conversion into a normal company
- File the special resoultion in MGT-14 with ROC
- File INC-18 for applying to the Regional Director for conversion along with required documents
- File GNL-1, a copy of application filed with the Regional Director, with ROC also
- Publish newspaper advertisement about the conversion
- Amend AoA and MoA, on receipt of approval from the Regional Director
- File INC-20 with ROC with the approval order of regional director and amended AoA and MoA
A Section 8 Company can be closed in 3 major ways –
1. Fast Track Exit – Strike off
- Best for Dormant or inactive companies
- The company can apply in case of no business activity for the last 1 year before the application or since incorporation
Steps for the strike off:
-
Board Meeting & Resolution for closure
-
E-clearance from Directors (Affidavit & Indemnity Bond)
-
Prepare financial statements (latest), certified by CA
-
File Form STK-2 with ROC
-
ROC verification
-
ROC publishes notice & strikes off the company
2. Voluntary Winding up
- On the occurrence of any event that calls for dissolution under the articles
- On expiry of the duration of the company
Steps:
-
Passing of a Resolution in the general meeting for closure
- Taking consent of Trade Creditors for the closure
- Declaration of solvency
- Appointment of liquidator to carry out winding up proceedings & present a report before general meeting
- The liquidator send copy of the final accounts of the company and resolutions to the ROC
- The liquidator make application to Tribunal for dissolution
- Upon satisfaction, Tribunal passes an order of dissolution within 60 days of the application
3. Compulsory Winding up
The Tribunal can compulsorily wind up a company in case of an unlawful or fraudulent act. No conversion is required for compulsory winding up by NCLT.
Steps:
-
Filing of a petition by the company or creditors, or the government, ROC
- Audited Statement of affairs to be submitted along with the petition
- Advertisement of the petition for at least 14 days in the regional and English language
- Proceedings of the tribunal and appointment of a liquidator by the tribunal
- The liquidator will carry on the winding-up process and report to the Tribunal
- The liquidator makes an application to the Tribunal for the dissolution
- Upon satisfaction, the Tribunal passes an order of dissolution within 60 days of the application
How to apply Online?
GST Suvidha Centre makes the process straightforward:
As part of this service, we provide the following:
- Filing of MGT-14, INC-18,GNL-1, INC-20 and other necessary compliance for the conversion
- Drafting and filing of Form STK-2, affidavits, indemnity bonds, resolutions, and all supporting documents.
- Support in IBC-based voluntary liquidation, appointment of liquidator, asset settlement, and NCLT coordination.
- Compliance Completion Before Closure
- Document Drafting & Legal Paperwork
- ROC & NCLT Coordination
- Liability & Asset Settlement Guidance
- Post-Closure Support
Process to Avail Our Private Limited Company Registration Service
- Book a Consultation (Optional)
Visit our website to schedule a free consultation call if you require guidance before proceeding. - Select and Add the Service to Cart
Choose the Cancellation of Section 8 Company service and add it to your cart. You may opt to proceed directly without a consultation. - Upload Required Documents and Complete Payment
Securely upload all necessary documents on our portal and finalise the process by making the payment. - Back-End Processing by Our Team
Our team will carry out all required procedures and formalities using the documents you have provided. - Completion and Document Handover
Upon completion, you will receive your dissolution order or other relevant documents associated with the service.
The whole Cancellation of Section 8 Company Online process is managed by experienced planners, making sure everything is proper according to the law, and helping you stay stress-free.
What documents are required ?
Documents required for the conversion of Section 8 Company into Normal company
1. Company Documents
- Certificate of Incorporation
- MoA and AoA
- PAN Card of the company
- Board Resolution and Special Resolution of members for conversion
- Declaration and Affidavits from Directors
2. Director’s Documents
- PAN & Aadhaar of all Directors
- Passport-size photographs (if required)
- Digital Signature (DSC) of Directors
- Declaration and Affidavit from Directors
3. Financial & Compliance Documents
- Audited financial statements for the last 2 years
- Statement of assets & liabilities (latest)
- List of past donations, grants & asset utilisation
- ITR acknowledgement of all previous years
- MCA annual filings
4. Notices & Approvals
- Notice to Authorities (if the company received any government grant)
- Approval / NOC from Chief Commissioner of Income Tax, Income Tax Officer, Charity Commissioner, Chief Secretary of the State who has jurisdiction over the company and other relevant government authorities
- Company & Registration Documents
- Director’s Documents
- Board Resolution for Closure
- Special Resolution by Shareholders
-
Affidavit and Indeminity bond by Directors
- Latest financial statements and Statement of Accounts certified by a Chartered Accountant
- Bank account closure certificate
-
Proof of no asset/liability (if applying via Strike Off)
- Proof of no asset/liability (if applying via Strike Off)
- ITR acknowledgement of all previous years
- MCA annual filings
What is the cost for Cancellation of Section 8 Company with GST Suvidha Centre?
Cancellation of Section 8 Company in Bilaspur or in Chhattisgarh or any other place in India is based on the company’s structure and any residual compliance. The GST Suvidha Centre provides cost-effective upfront full support inclusive of document preparation, submission and MCA filing.
Why use GST Suvidha Centre to cancel your Section 8 Company?
• 100% online and paperless process
• Experienced professionals will assist with ngo compliance
• Affordable with transparent pricing
• PAN India consultants in every state
• Once the company is cancelled we even assist with closing your PAN, GST, and bank account
By using GST Suvidha Centre you can cancel your Section 8 Company lawfully and with confidence.
Frequently Asked Questions:
Q1. Can I find Cancellation of Section 8 Company near me?
A. Yes. GST Suvidha Centre offers Cancellation of Section 8 Company both online and offline across India..
Q2. Can I close a Section 8 Company directly?
A. No. A Section 8 Company cannot be directly closed or struck off. It has to be first converted into a Normal Company (except in case of compulsory winding up by NCLT). After conversion, you can follow the procedure of closing a normal public/private limited company.
Q3. What is the quickest way to close my Section 8 Company?
A. The quickest way to close a Section 8 company is strike off by filing SKT-2
Q2. How long does the Cancellation of Section 8 Company Online take?
A. Cancellation of Section 8 Company Online usually takes 6-12 months, depending on the option taken for winding up and time taken by MCA for approval
Q3. Do the company need to surrender the license to the government before closure?
A. Yes, the section 8 company need to convert into a normal company and then surrender their license before the governing authority
Q3. Do I need to get government approval to cancel?
A. Yes, approval from the Central Government (Regional Director) must be obtained before commencing the closure request.
Q4. Is it possible to close a Section 8 Company with outstanding liabilities?
A. No. You must settle all dues and liabilities before applying for cancellation.
Q5. Do I need to complete all pending compliances before closure?
A. Yes, all pending compliance, such as MCA filings, Income Tax Returns and other statutory requirements, need to be completed before applying for closure.
Q6. What happens to the assets of a Section 8 Company during closure?
A. As per law, Section 8 Company assets cannot be distributed among members or directors. So, GST Suvidha Centre assists in transferring assets to another NGO with similar objectives, or complying with NCLT/ROC directions for disposal
Q5. Does GST Suvidha Centre help after the company has been closed?
A. Yes. We assist with closure confirmation follow-up, document retrieval, surrendering the PAN, and cancelling GST.
Close your Section 8 Company legally and hassle-free with GST Suvidha Centre – we are your trusted partner for NGO/Section 8 Company compliance in India.
Please follow us to get regular updates & free consultation at :
Messege Us on : Whatsapp
You can also Contact Us or visit our Home page for customer reviews and testimonials.
Visit our About Us Page for more information
Our Other Services
Reviews
There are no reviews yet.