Fast track exit scheme

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Querist : Anonymous

Querist : Anonymous (Querist)

23 April 2015 If a Company wants to exit under Fast Track Exit scheme of MCA is it required to file MGT 14 applicable for the last year for receiving MBP-1 from the Directors or approval of annual accounts???

Pratik Shah

Pratik Shah (Expert)
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23 April 2015 No, you can file FTE application even if filing of forms are pending. You need to need to ensure that the Company is eligible for applying under FTE.

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Querist : Anonymous

Querist : Anonymous (Querist)

23 April 2015 Please also refer the relevant provision for the same.

Pratik Shah

Pratik Shah (Expert)
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23 April 2015 Please check FTE Scheme circular. Nothing have been mentioned in the FTE regarding pending forms. The Company can not apply for it, if prosecutions are pending.

So if the prosecutions have not been stated, they will consider the application.

I had also visited ROC office personally few months back. They said the same thing.

Still, you can check this in ROC office for better clarification. Thanks

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