Fte -fast track exit
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
31 July 2012
CAn a company incorporated in 2011 can be closed under fast track Exit??
Amol S Joglekar
(Expert)
31 July 2012
Yes. It is possible.
CS Ankur Srivastava
(Expert)
01 August 2012
Under Fast Track Exit mode, Defunct companies can be easily closed. However, a newly incorporated company will not be categorised under defunct category.
CS Ankur Srivastava
(Expert)
01 August 2012
FTE Guidelines are applicable to a defunct company. For the purposes of the FTE Guidelines, any company will be called as "defunct company", which has nil asset and liability and
1. has not commenced any business activity or operation since incorporation; or
2. is not carrying over any business activity or operation for last 1 year before making application under FTE.
Any defunct company which has active status or identified as dormant by the MCA may apply for getting its name struck off from the ROC.
After completing the above period of 1 year you may move ahead with Fast Track Exit Scheme.
1. has not commenced any business activity or operation since incorporation; or
2. is not carrying over any business activity or operation for last 1 year before making application under FTE.
Any defunct company which has active status or identified as dormant by the MCA may apply for getting its name struck off from the ROC.
After completing the above period of 1 year you may move ahead with Fast Track Exit Scheme.
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