Closing a Private Limited Company requires following the formal process laid down by the Companies Act, 2013.

The process involves various steps, including:

1. Board resolution: The board of directors must pass a resolution approving the closure of the company and authorizing a director or authorized person to initiate the closure process.
2. Shareholder approval: The shareholders must approve the board resolution through a special resolution, which requires the approval of at least 75% of the shareholders.
3. Filing of forms: The authorized person must file various forms with the Registrar of Companies (ROC) such as Form MGT-14, Form STK-2, etc. and obtain a No Objection Certificate (NOC) from various authorities.
4. Payment of dues: All the dues such as taxes, liabilities, fees, etc. must be paid before initiating the closure process.
5. Publication of notice: A public notice must be published in a leading newspaper and the official gazette stating the intention to close the company.
6. Distribution of assets: The assets and liabilities of the company must be settled, and the remaining assets must be distributed among the shareholders as per their entitlement.
7. Final closure: After completing all the necessary steps, the authorized person must file the final documents with the ROC, and the company will be struck off from the Registrar of Companies.