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        Corp. Laws, SEBI & IBC

        Registration of a Company.

        August 30, 2012

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        Press Information Bureau

        Government of India

        Ministry of Corporate Affairs

        30-August-2012 16:54 IST

        Registration of a Company

        The Government is aware that a number of companies registered are not in operation for a long time. There are 1,46,316 dormant companies as on 23.08.2012. The Ministry of Corporate Affairs has launched “Fast Track Exit Mode” w.e.f. 03.07.2011 to provide an opportunity for defunct companies under section 560 of the Companies Act, 1956 for getting their names struck off from the register maintained by the Registrar of Companies.

        This information was given by Minister of State for Corporate Affairs Shri R.P.N. Singh in reply to a written question in the Lok Sabha today.

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        ST

        Fast Track Exit Mode enables defunct companies to apply for administrative strike-off to cleanse the companies register. To address registrational inaccuracy from long-inactive entities, the Ministry of Corporate Affairs introduced the Fast Track Exit Mode to allow eligible defunct or dormant companies to seek administrative removal from the register maintained by the Registrar of Companies, providing an expedited mechanism for company strike-off under the statutory exit framework.
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.

                                Fast Track Exit Mode enables defunct companies to apply for administrative strike-off to cleanse the companies register.

                                To address registrational inaccuracy from long-inactive entities, the Ministry of Corporate Affairs introduced the Fast Track Exit Mode to allow eligible defunct or dormant companies to seek administrative removal from the register maintained by the Registrar of Companies, providing an expedited mechanism for company strike-off under the statutory exit framework.


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