JazzyDumpling
JazzyDumpling

Leaving an inactive account as it is or activating it and closing

Hi,

Need your valuable suggestions on this.

I opened a current joint partnership account with JK bank in 2018. Me and my partner did not continue with the business. Now, in 2025 I decided to close the account as it my attract non-maintenance charges. I'm presuming the charges might have added up to lakhs over the years.

On visiting the bank, they told me that the account is inactive and needs to be activated again. For that, both me and my partner have to visit the branch with all the documents(partnership deed, company registration, and GST registration). On top of that, KYC also has to be updated. It is a long procedure.

Would it be wise to go ahead with this or just let the account be inactive?

3mo ago
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JazzyKoala
JazzyKoala

If you have managed to close your GST number, and TAN/PAN then forget about the bank.

Also get your company deregistered.

Consut a CA/Lawyer and get all that done.

Inoperative companies are more likely to invite action from Government rather than inoperative account.

JazzyDumpling
JazzyDumpling

Thanks

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