No Penalty – Once the closure process begins, the company no longer needs to worry about incurring penalties for unresolved issues.
Free from Compliance – Since the company will be closed, there will be no further compliance obligations.
Reallocate Resources – If the current business is not profitable, its resources can be redirected to a more viable venture.
A compliance manager will contact you to collect your documents along with a simple checklist. Please complete the checklist and submit it along with your documents for verification. Our expert team will review the documents provided and move forward with the procedure. Your dedicated compliance manager will keep you informed about the progress of the company strike-off process at each stage.
After verifying all the provided documents, we will proceed with filing any pending forms such as Form AOC-4 and MGT-7 for Annual Returns and Financial Statements. Additionally, we will prepare the required documents, including the indemnity bond in Form SKT 3 and affidavit in Form SKT 4. Once these documents are ready, we will file an application for the strike-off of the company in Form SKT 2, along with all the necessary supporting documents.
Once the strike-off application is filed, the ROC will issue a public notice inviting objections to the proposed strike-off. If there are no objections and the ROC is satisfied that all dues and liabilities of the company have been settled, the Registrar will proceed to strike off the company’s name and dissolve it. The dissolution and strike-off notice will be published in the Official Gazette.
The closure of a One Person Company (OPC) refers to the legal process of dissolving or striking off the company from the official records maintained by the Registrar of Companies (ROC). This process removes the OPC from the register, ending its legal existence as a separate entity.
If your OPC is inactive, dormant, or no longer conducting business, it is advisable to close it to avoid unnecessary compliance costs, penalties, and legal obligations. By closing the OPC, you also free yourself from any ongoing liabilities and reduce the risk of penalties for non-compliance with statutory regulations.
Yes, the Registrar of Companies (ROC) can compulsorily strike off a company if it has failed to commence business within one year of its incorporation or if it is not complying with annual filing requirements. The ROC can take this action after sending a notice to the company, and if no response is received, it can proceed with the closure.
The Fast Track Exit system allows for the closure of a company in a simplified and expedited manner. The entire process can typically take around 3 to 6 months, depending on the completeness of the documents and the company's compliance with necessary formalities.
The closure documents must be filed within 30 days of the date on which the statement of assets and liabilities is signed by the director. It is crucial to ensure all documents are submitted promptly to avoid delays in the strike-off process.
Closing a company in India can be suitable for businesses that are inactive, dormant, or no longer profitable. By closing the company, you avoid the continuing costs of compliance, which can accumulate each year. Additionally, it ensures that the company is legally dissolved, reducing the risk of penalties or fines for non-compliance.
We offer our services across multiple cities in India, including major business hubs like Delhi, Mumbai, Bangalore, Chennai, Hyderabad, Pune, Kolkata, and more. Contact us for specific information regarding your location.
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