Section 8 Company Closure
- ✔ Legal Dissolution: Provides a formal way to shut down a non-profit entity that is no longer active or viable.
- ✔ Liability Protection: Protects directors and promoters from future legal actions or penalties arising from an abandoned entity.
- ✔ Compliance Relief: Stops the continuous burden of filing annual returns (MGT-7 and AOC-4), which carry heavy daily penalties.
- ✔ Professional Exit: Ensures the "Section 8 License" is surrendered in a compliant manner, preserving the professional reputation of the promoters.
- ✔ Regulatory Cleanliness: Facilitates the legal surrender of 12A, 80G, and FCRA registrations, preventing future tax scrutiny.
- ✔ Cost Savings: Eliminates the need for mandatory statutory audits and professional maintenance fees for an inactive NGO.
- ✔ Asset Settlement: Provides a structured, legal mechanism to transfer remaining charitable assets to a similar organization.
- ✔ Director Eligibility: Prevents the disqualification of directors under Section 164, allowing them to remain on boards of other companies or NGOs.
We Are Recognised On
We Are Recognised On
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