An application for striking off the Company could have to be filed to ROC if the business is not running. Company closure could be because of several reasons. For the closing a One Person Company, there can be various internal to external factors. Such as low working capital, voluntary closing business, government policies, and so on.
The provisions of the Companies Act, 2013 govern the striking-off Company. For winding up OPC under MCA, you have to file an e-form STK-2. The government fee for the form is Rs 10,000/-. All ROC compliances are mandatory before filing any company closure application.
For OPC closure, the Company should be one year older. That means only after one year of incorporation, the Company can be wound up under the law. Also, at least two years should lapse before the last business transaction.
In the Company closure application, Directors need to file affidavits and indemnity bonds. There should not be any liabilities outstanding in the name of the Company. The name of the Company publishes in the gazette for creditor's/third-party comments. If no objections are received during such time, the closure gets department approval.
Advantages of striking off OPC
After filing the LLP closure application, there is no need to do further LLP compliances.
After allowing the application for LLP closing, there will not be any penalties. No LLP compliances and penalties levied.
If the LLP business is not running well, then a new business could be set up and time invested.
Documentation for closing OPC
Indemnity Bond notarized by Directors (STK 3).
Latest financial statements
Statement of Accounts containing assets & liabilities of the Company
Special Resolution or Consent of 75% Members.
Bank Account Closure Certificates.
PAN Card of the Company.
Board resolution for closure
The above price might vary as per the deed and amount of contribution
Trademark filing excludes government fees
Process involved in registering a Closing a One Person Company
Eligibility for Strike Off
Eligibility for Strike Off
Requirements for OPC closure
- The company applying under FTE should not have any asset and liability.
- The company should not have commenced any business activity or operation since incorporation or at least one year must has been passed since last business activity or operation.
- The Company has duly filed all the financials to the ROC, till the time of its closure.
FAQs About OPC closure
Is ROC filing mandatory before company strike off application?
Yes, it is mandatory to file LLP compliances before filing an LLP closure application.
What is the basic Eligibility criteria for closing a company?
The primary factor is that the company must at least be 1 year old in terms of nature of functioning in order to apply for closing.
What is time limit to file Closure documents with ROC?
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.
What is Fast Track Exit (FTE) Scheme?
FTE is a company closure scheme initiated by MCA for easy and faster closure of Company. This is a mandatory thing to address in order to close a company.
What is MCA ?
MCA is Ministry of Corporate Affairs which has the database to maintain and also takes care of the complaint rules.
Why choose Unilex?
Well with highly qualified professionals in our team along with the technology gives edge over others,
as a result highly rated professional services with full customer satisfaction is assured. We help to
grow and manage your business letting you to concentrate on your business.
Unilex is registered with the Ministry of Micro, Small & Medium Enterprises (MSME), a part of Government of
ISO 9001:2015 Certified
Unilex is a ISO certified body, assuring the quality professional services to aspiring startups
Money Back Guarantee
Subject to our terms and conditions, money back is guaranteed if we failed to give 100% customer
Unilex is a Google Partner. Google Partners are tasked with helping businesses market their service or
Learning never stops
Get yourself updated with various start-up/Entrepreneurship laws applicable in India.
Dive into our well written articles/blogs by our experts and get more information on government regulations
and company rules and regulations.