Closure of Company
@ Rs. 5000* Only

Closure of Company


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Closure of Business is the term used to refer to the steps necessary when it is no longer possible for a corporation or organization to continue to operate feasibly and profitably. Closure can take place of variety of reasons which might be the result of a lack of available funds or reserves , wherein the organization lacks sufficient funds to continue its current operations, as a result of the lack of innovation or falling sales or insufficient revenue business dying, or a result of a business being purchased by another organization (or a competitor) and shut down as superfluous, or because it is the non-surviving entity in a takeover bid or other words an acquisition . A closure may occur because the original purpose or the predetermined goal for which the organization was created is no longer necessary. One Person Company Closure or a Private Company Closure or any entity which is established by individuals can be subject to a closure, from a small scale industry usually a start up to a giant company having branches across the world, can fall to such unfortunate circumstances which leads to the business operation to stop functioning and shut their current operation.

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Application for Striking off of the Company, Board Resolution for closure, Consent of Directors, Director's Affidavit, Indemnity Bond, Statement of Assets and Liabilities.

The filing fees for Form FTE is Rs. 5000. Fill the above details and submit. You will get documents in 1 minute.

Form FTE

FTE is a company closure scheme initiated by MCA for easy and faster closure of Company.

Closure of the company 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.

Any Company which is not a Section 8 Company and has been inoperative for more than 1 year from the date of its incorporation can apply for Closure of Company under FTE scheme.

It is necessary to file Closure with the ROC as ROC or MCA data base need to be updated and the Company is free from all its legal compliance as it is officially closed. Even though business of the company is closed, unless closure documents are filed and approved by the ROC, company is not legally closed and the company needs to file all the regular returns.

The Form has to filled be filed with ROC office within 30 days from the date of Signing of the Statement of Assets and Liabilities.

When existence of the Company as a legal entity comes to an end it is known as the Closure of the Company.

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