Closure of Private Limited Company

Common Questions

Most Popular Questions

The Fast Track Exit (FTE) scheme is a provision by the Ministry of Corporate Affairs (MCA) that allows defunct private limited companies to close down quickly and efficiently.

Companies that have no assets or liabilities, have ceased operations for at least one year, and wish to close down voluntarily are eligible for the FTE scheme

The FTE scheme provides a hassle-free and cost-effective way to close down defunct companies, avoiding lengthy and complex liquidation procedures.

The procedure involves filing Form FTE with the Registrar of Companies (RoC), submitting required documents, and paying the prescribed fees.

The closure process typically takes around 60 to 90 days from the date of filing the application, subject to approval from the RoC.

Documents such as board resolution, affidavit, indemnity bond, statement of accounts, and Form FTE are required.

Non-compliance may lead to penalties, fines, and legal consequences, emphasizing the importance of adhering to the prescribed procedure.

Yes, Avenue Advisory provides expert assistance for the closure process, including filing applications, preparing documents, and liaising with regulatory authorities.

Avenue Advisory ensures compliance by guiding clients through the process, preparing accurate documents, and facilitating timely filings with the RoC.

What are the benefits of outsourcing the closure process to Avenue Advisory?

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