There might be a couple of reasons for which you would want to wind up your Private Limited Company. But one of the bigger reasons you might want to do this is because it will release the assets and investments made by you. A public accountant would be appointed by the court as a liquidator. The powers of the directors would devolve upon this person and he would be primarily responsible for accumulating all the assets of the company and paying off its debts. The surplus would then be distributed among the members. It takes at least two to three months to complete the closure of your company, but it could take much longer, depending on the findings of the liquidator appointed.