When the things do not work out properly a business may have to be shut down. There can be many reasons to close up or wind up the company. When existence of the Company as a legal entity comes to an end it is known as the Closure of the Company. Fast Track Exit mode is introduced by Ministry of Corporate Affairs for giving opportunity to non-operating companies for getting their names struck off from the records of Ministry of Corporate Affairs.
Following Companies can apply under fast track exit mode for striking off its name from register of Registrar of Companies: • A Company has failed to commence its business within one year of its incorporation; or • A Company is not carrying on any business or operation for a period of two immediately preceding financial years and has not made any application within such period for obtaining the status of a dormant company under section 455 of the companies act, 2013
Which form is required to be filed with ROC for making application under fast track exit mode?
E-Form STK-2 is required to be filed with ROC for making application under fast track exit mode.
What is the effective date of closure of Company?
ROC will send notice (containing list of companies struck off) under section 248(5) of the Act for publication in the Official Gazette. The Applicant Company under fast track exit mode shall stand dissolved from the date of publication of the notice in Official Gazette.
Filing of forms
Approval of Forms
Name Strike Off