Winding up one person company One person company is a company which is run by the sole owner. One person company is a separate legal entity from its members.

Requirement for closing one person company

1)Closing of a one person company can happen either voluntary or by the order of the Tribunal. Any company can apply for its closing if it is inoperative for more than a year from the date of its incorporation, that company can apply for its closure.

2)For closure of its company it is mandatory to file closure application with the registrar so that the company is free from all legal compliances and is officially closed.