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Closure of subsidiary company without filing fcg-pr

Co Act 2013 289 views 1 replies

Nagraj

Business

24 Points Joined August 2015

Hi Friends,

Ours is a subsidiary company which we incorporated few months back. We received the initial investment amount from US and we filed the FIRC also. But we didn't filed any FCG-PR for the same. But from the date of incorporation to till date we didn't did any operation / business / transaction.

Now we are not in a position to run the company as such we want to close the company.

Please suggest me, is it possible to close the subsidiary company without filing the FCG-PR?

Please let me know if you need any info from my end.

Thanks in advance.

Replies (1)

P C Agrawal

Registered independent director Past Ch

8229 Points Joined March 2007

Closing the company is not simple process and it is time consuming. Non-filing FC-GPR will be offence under FEMA. I will advise you to file FC-GPR and then take action for closing the company. I presume that allotment of shares has been done and return of allotment filed with ROC since FC-GPR is required to be filed post allotment.