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One Person Company Closure

Filing a proper application for winding up or closing a One Person Company (OPC), and following the prescribed procedure for closure, are absolutely necessary for closing the OPC legally and officially. Though inoperative, an OPC is compulsorily required to file all regulatory compliances and regular returns punctually, unless it has filed the closure documents with the concerned ROC.

Steps to form a Closure of One Person Company

Notice of
board resolution
Passing Of
resolution
Filing document
of forms
Payment
of fees

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Procedure

Closure of One Person Company

Filing a proper application for winding up or closing a BlueTxtColor (OPC), and following the prescribed procedure for closure, are absolutely necessary for closing the OPC legally and officially. Though inoperative, an OPC is compulsorily required to file all regulatory compliances and regular returns punctually, unless it has filed the closure documents with the concerned ROC.

The Process of closing an OPC is known as Strike off or company closure. Company closure is done under newly notified rules Companies (Removal of Names of Companies) Rules, 2016 which governed by section 248 of Companies Act, 2013. If you are not running your company, we recommend you to close your OPC.

A Company closure is filed under Form STK 2 (Earlier form was FTE) along with the government fees of Rs.10000/- and some necessary docs. However it is important to note the cases where closure can be filed. A Company closure can be filed after the following steps: The first step is to repay all the liabilities of the company and ask for written No Objection Certificate from them. However, in case you have not started the business/operations, then this clause does not apply to you.

This is a very new requirement which is to be complied for OPC closure. To wind up the company, you need at least 75% consent of the shareholders/members of the company further, one director is also needs to be notified to take care of all the responsibility for company closure. Once consent is assigned, next step is to prepare application and file the same with the ROC.

Documents

  • The Application for Striking Off the OPC
  • Board Resolution in favour of the desired winding up
  • Consent Letter and Affidavit of its Director
  • Consent of the Creditors of the OPC
  • Indemnity Bond
  • Statement of Accounts
  • And, the Statement of the Assets and Liabilities
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