Strike off the name of the company or winding up of the company is compulsorily required if the company is not in operation, to make the company free from all the legal compliance and to update the MCA database. The strike off application should be filed within 30 days from the date of signing the statement of Assets and Liabilities.
No Penalty – Once the closure is started, there is no need of the company to be worried about being in a state for paying the penalty fee for the causes that are not addressed.
Free from Compliance – There is no need to be compliant since the company would be closed.
Suitable Business – If the business that you have chosen is not running and yielding profits, then its resources can be used into a better one.
How to Close OPC in India?
Filing of a company closure is done under Form STK 2 with the ROC prescribed fees of Rs. 10,000 and some essential documents. However it is important to remember the circumstances where closure can be filed. A Company closure can be filed according to the following steps :
Paying off all Liabilities - The first step is to repaying all the liabilities of the company and asking for written No Objection Certificate (NOC) from them. If you have not started the business/functions, then this clause is not applicable.
Require 75% Consent - This condition is not applicable for One Person Company (OPC) in India as in the case of OPC, all the 100% shares are owned by the individual and therefore he requires no approval from any other individual.
Making Application - The next step is to make application and file the same with Registrar of Companies through form STK – 2.
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