Winding up of OPC

The sole member (owner) of the OPC can initiate the winding-up process, either voluntarily or through a tribunal if necessary.

• Voluntary winding-up: Initiated by the member when the business is solvent or insolvent.
• Winding-up by Tribunal: Initiated if the company cannot pay its debts or fails to comply with regulatory requirements.

Typically, it takes between 6 months to 1 year, depending on the complexity of settling liabilities and liquidating assets.

Key documents include the resolution for winding-up, financial statements, affidavit, and declarations for dissolution, along with any additional forms required by the RoC.

Restoration is possible under certain conditions, such as appealing to the Tribunal for a valid reason, typically if the company was struck off incorrectly.