List of Business Entities Who Cannot Get Benefits of Dissolving a Limited Company

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List of Business Entities Who Cannot Get Benefits
of Dissolving a Limited Company
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Fast Track Exit mode is introduced by Ministry
of Corporate Affairs for giving the opportunity
to non-operating companies for getting their
names struck off from the records of Ministry of
Corporate Affairs. Fast Track Exit mode is an
easy mode of Dissolving a Limited Company at
cheaper cost with lesser formalities under
section 560 These are the business entities who
cannot apply for fast track exit scheme by
the Government of India. liquidation of company
listed companies ? companies that have been
de-listed due to non-compliance of Listing
Agreement or any other statutory Laws, ?
companies registered under section 25 of the
Companies Act, 1956 or Section 8 of Companies Act
2013 ? vanishing companies a company,
registered under the Companies Act, 1956 and
listed with Stock Exchange which, has failed to
file its returns with Registrar of Companies and
Stock Exchange for a consecutive period of two
years, and is not maintaining its registered
office at the address notified with the
Registrar of Companies or Stock Exchange and
none of its Directors are traceable. ? companies
where inspection or investigation is ordered and
being carried out or yet to be taken up or where
completed prosecutions arising out of such
inspection or investigation are pending in the
court companies, where the order has been issued
by the Registrar and reply thereto, is pending or
where prosecution if any, is pending in the
court ? companies against which prosecution for
a non-compoundable offense is pending in court
companies accepted public deposits which are
either outstanding or the company is in
default in repayment of the same ? the company
having secured loan ? the company having
management dispute ? the company in respect of
which filing of documents have been stayed by
court or Company Law Board (CLB) or Central
Government or any other competent
authority WHICH ARE COMPANIES ELIGIBLE FOR
FTE? ? Companies which has Nil Assets and
Liabilities and ? Not commenced any business
activity or operation since incorporation
or ? Not carrying over any business activity
or operation for last one year before
applying for FTE ? shall have active or
dormant status on its Master Data. If you have
any query or question please comment in the
comment box below or Contact us. We would love to
help you. dissolving a limited company closing
down a limited company