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Company’s MOA – AOA, Certificate of Incorporation, PAN card and other registration certificates
The financial statement of the Company for the most recent year, prepared prior to 30 days of filing the application
Details of Activity
Details whether the company has been operative for any period. If yes, since when the operations are discontinued
A statement regarding pending litigations, if any involving the company
NOC from Creditors
Company must provide NOC for closure from creditors, if any (Draft to be provided by LW experts)
NOC from Regulatory Bodies
NOC for closure to be obtained from Income Tax Department, SEBI, RBI, etc. if relevant
A closure of an one person company can be filed when the company is not active and wants to shake hands off its liabilities and compliances. It has to repay or extinguish all their liabilities and receive a No Objection Certificate (NOC) from the creditors before filing the closure application. And conduct a meeting where the director and members decide upon the closure by signing a special resolution or a consent of seventy-five percent members regarding paid up share capital.
The Registrar of Companies can remove the company name from the list of companies if he has reasonable cause to believe that:
A Company failed to commence its business within one year of its incorporation or
A Company closure is filed under Form STK 2 along with the government fees of Rs.5000/- and some necessary docs. A One Person Company closure can be filed after the following steps:
First step is to pay all liabilities and get an NOC for the closure
2/3rd majority Consent of the creditors
After filing the application with the Ministry of Corporate Affairs, it takes about 90 days for striking off the Company from MCA records.
ROC will publish list of companies struck off in the Official Gazette. The Company under fast track exit mode will be considered closed from the date of publication of the notice in Official Gazette
It is necessary to intimate the Registrar for the closure of Private Limited Company to update the MCA data and make company free from all its legal compliances.
The closing documents have to be filed within 30 days from the date of signing of the assets and liabilities statement.
Closure of the OPC is done voluntarily and is done through the fast track exit scheme. Winding up of the company may be voluntary or by the order of the Court by appointing an official liquidator to monitor the process of Winding up. Dissolution is initiated by the Court for ending the legal existence of the Company.
Fast Track Exit is a scheme introduced by the Ministry of Corporate Affairs (MCA) for inactive companies to wind up and get their names struck off from the MCA record with lesser formalities.
A closure is the best option in case the company is not running as it: