I have a client who incorporated a private limited company in 2012. Since then he has not filed any document with ROC.

He has not filed any annual return or accounts with ROC. Can he apply for closure of company through FTE route and if yes then what is the procedure and how to proceed?

Posted 7 months, 3 weeks ago by Rahul Rai


Dear Rahul

There are two main criteria for FTE 

1. The company should not have any assets or liabilities 

2. Since the incorporation of company no business activity or operation has been conducted, or 1 year must have been passed since last business activity or operation.

& also if your client has obtained status of dormant company then also he can file for FTE

Regards

CA Bhuwan Sharma

BHUWAN.CHAND.SHARMA@ICAI.ORG

Posted 7 months, 2 weeks ago by NRO0263978 BHUWAN CHAND SHARMA


Thanks a lot.

My doubt is if company has not filed its annual returns, even then can it apply under FTE or first company should file annual returns before going for closure?

Posted 7 months, 2 weeks ago by Rahul Rai


Dear Rahul 

In your case if the company has no asset or liability then they can directly apply for stiking off the name from ROC, but if this is not the case then they have to apply for the status dormant company before . applying for FTE

Regards 

CA Bhuwan Sharma

BHUWAN.CHAND.SHARMA@ICAI.ORG

Posted 7 months, 2 weeks ago by NRO0263978 BHUWAN CHAND SHARMA


In either case no need to do annual filing for past years?

Posted 7 months, 2 weeks ago by Rahul Rai


hi rahul,

has your client company received any notice from mca for non filing of annual return and balance sheet? if yes then they will have to do the filings first.

if not you can just apply for FTE through STK-2 form, once you upload the form you will come to what is to be done next, they might ask you to complete the old filings or might also approve your form.

Posted 6 months, 1 week ago by CS Sneha Richard


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