Overview
A One Person Company (OPC) is one of the most popular forms of business in India for individual entrepreneurs. It offers the benefits of limited liability and a separate legal identity while allowing single-person ownership. However, when the OPC stops operations, becomes inactive, or the owner no longer wishes to continue, it must be legally closed through a winding-up process. Winding up ensures that the OPC is formally dissolved and its name is removed from the records of the Registrar of Companies (ROC).
In India, an OPC can be wound up either voluntarily by the sole member or compulsorily by the National Company Law Tribunal (NCLT). Voluntary winding up is preferred when the company has no debts or has settled all liabilities. Compulsory winding up may occur when the company is unable to pay its debts, fails to file annual returns, or acts against public interest. The process is governed by the Companies Act, 2013 and related rules.
Winding up is not merely shutting down operations; it is a legal closure that ensures all financial, statutory, and tax obligations are fulfilled. The ROC verifies that the company has no pending liabilities, no active bank accounts, and that all compliances are complete before approving the dissolution.
At BizGlobal, we take care of the entire winding-up process for your OPC. Our team prepares all resolutions, declarations, and filings, and coordinates with the ROC to ensure a hassle-free and compliant closure. Whether your OPC is inactive or you wish to discontinue, BizGlobal helps you close your company quickly, legally, and transparently.
