Jayanti Dey (Practicing Company Secretary) (271 Points)
27 April 2016A Company incorporated in the year 2011 has filed its annual financial statement till September, 2013. Then No documents have been filed. Now the directors of this company want to close this company through Fast Track Exit Scheme. What are the formalities to be completed before going into Fast Track Exit Scheme and what is the procedure for Fast Track Exit Scheme?
CS Arjun Rajagopal
(B.com, ACS)
(1056 Points)
Replied 27 April 2016
Kindly go through provisions of Section 560 of the Companies Act,1956.
Some points to be noted in this regard.
1. The company should be inoperative as on date.
2. The companies should not have assets and liabilites as on date
3.As on date, the Company does not have any dues towards Income Tax./Sales Tax/Central
Excise/Banks and Financial Institutions; any other Central or State Govemment
Departments/Authorities or any Local Authorities.
Detailed procedure and guidelines are attached herewith.
Regards,
Arjun Rajagopal
CAclubindia
