FAST TRACK EXIT MODE

FAST TRACK EXIT MODE

PROCEDURE

  1. An application must be made by a defunct company through the fast track exit scheme form,
  2. The application must be certified by directors and form must be certified by a ICAI/ICSI/ICAI .
  3. The company must disclose pending litigation, if any, in which the company is involved while applying under the fast track exit scheme.
  4. An affidavit, with effect that the company has not carried on any business since incorporation or carried out business only for a period up to a particular date(which should be specified) and then discounted its operations.
  5. The form must also be accompanied by an indemnity bond, duly notarized, to be given by very director individually or collectively, to the effect that any losses, claims and liabilities of the company will be met in fully by every director, individually or collectively, even after the name of the company has been struck off the Register of Companies.
  6. The company must also file a stament of accounts prepared not more than one month before the date of the filling of the application, duly certified by a statutory auditor or chartered accountant in the full- time practice.
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