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    To Strike off Company where only 1 Director Left

    Posted By : Trust / Published on : 01-Aug-2019 05:10 AM / View : 671 / Comment : 1

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    Dear All,

    In a private limited Company having 2 shareholders cum directors, Where 1 has died in an accident without having any legal heir.

    Now we need to close the company. How to proceed the same with only 1 Director cum shareholder.

    Kindly Suggest.
    Read more on : left director only company strike

    • In case of the death of a director cum shareholder of a private limited company, the remaining director cum shareholder can continue to run the company. However, if the deceased director cum shareholder was the only director of the company, then the company will need to appoint a new director to manage the affairs of the company.

      In this case, since the deceased director cum shareholder has no legal heir, it may not be possible to transfer his shares to anyone else. In such a situation, the surviving director cum shareholder can buy back the deceased shareholder's shares from his estate, if possible.

      Once the shares issue is resolved, the company can proceed to close down by following the necessary steps under the Companies Act, such as obtaining shareholder approval for closure, filing necessary forms with the Registrar of Companies, settling all liabilities and obligations, and finally, applying for strike-off from the register of companies.

      It is advisable to seek the guidance of a professional, such as a company secretary or a lawyer, to ensure compliance with all legal requirements during the closure process.

      10-04-2023 / 11:57:09 AM
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