Guidelines for Fast Track Exit mode for defunct companies under section 560 of the Companies Act, 1956

Fast Track Exit for defunct companies enables streamlined striking off following prescribed certification, affidavit and notice procedures.

Fast Track Exit provides a streamlined procedure for striking off defunct companies with nil assets and liabilities: apply electronically in Form FTE with a filing fee; submit certification by a practising professional, director affidavits, notarised indemnity bonds, and a recent certified statement of account; Registrar issues a thirty day show cause notice and posts applications for public objection; regulators and tax authorities are notified; absent objections and on satisfaction, the Registrar strikes the name off the register and publishes dissolution in the Official Gazette.