How do I close a Pvt Ltd company in India after one month of incorporation?

How do I close a Pvt Ltd company in India after one month of incorporation?

You can close your Pvt Ltd. Company in India under Fast Track Exit (FTE) Mode. Ministry has issued Guidelines for "Fast Track Exit (FTE) Mode" to give opportunity to defunct companies to get their names struck off from the register under Section 560 of the Companies Act, 1956 in time bound manner.

There are two main criteria:-

•The company applying under FTE should not have any asset and liability.

•The company should not have commenced any business activity or operation since incorporation or at least one year must has been passed since last business activity or operation.

Under FTE Mode, you will have to file an application in the prescribed Form along with prescribed Fee of Rs. 5000/-, online with the Registrar. The form shall be accompanied with an affidavit, an indemnity bond, statement of account duly certified by a Chartered Accountant in practice or auditor of the company and copy of board resolution showing authorization for filing the form. In case, the digital signature of any of the director or Manager or Secretary is not available for affixing to Form FTE, a physical copy of the Form duly filled in, shall be signed manually by a director authorized by the Board of Directors of the Company and shall be attached with the application Form at the time of its filing electronically. Form FTE, shall be certified by a Chartered Accountant in whole time practice or Company Secretary in whole time practice or Cost Accountant in whole time practice.

However, the following companies cannot apply under fast track exit mode-

1. Listed Companies.
2. De-listed Companies due to non- compliance of Listing Agreement or any other statutory Laws.
3. Section 25 Companies.
4. Vanishing companies.
5. Companies where investigation / inspection ordered and yet to be taken up or pending.
6. Companies where order u/s 234 has been issued by ROC and reply is pending.
7. Companies where prosecution for a non-compoundable offence is pending in court.
8. Companies accepted deposits which are outstanding or default in repayment.
9. Company having secured loan.
10. Company having management dispute.
11. Company for which filing of docs have been stayed by court or CLB or CG or any other competent authority.
12. Company having dues of Income tax / sales tax / central excise / banks / financial institutions / CG / SG / other local authorities.
13. Companies not having active / dormant status on MCA portal.


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