Which documents are required to make application for strike off under FTE?
By Sakshi Shah on March 25, 2019
The MCA has introduced the FTE scheme for easy strike off of a company with fewer compliances and lesser cost.
What is FTE or Fast Track Exit Mode Scheme under Companies Act, 2013?
When a company files Form STK-2 to make application for strike off under the Fast Track Exit Mode (FTE), it should submit the following documents:
- Affidavit – An affidavit in Form STK-4 duly notarised and signed by all the directors of the company. In the affidavit, the director shall declare either of the following:
- The company has not carried on any business since its incorporation
- The company did some business up to a specified date, then discontinued its operations and has not carried on any business since last one year.
- Indemnity Bond – An indemnity bond in Form STK-3 duly notarised and signed by all the directors of the company. The Indemnity Bond mentions that every director shall be individually or collectively responsible to pay off the liabilities or losses that may arise even after the company is struck off.
- Statement of Accounts – A statement of accounts containing the assets and liabilities of the company up to a specified date. The specified date should not be more than 30 days before making the application for strike off under FTE. The statement of accounts should be signed by the directors and certified by a Chartered Accountant
- Board Resolution – Copy of Board Resolution authorising the directors to file the application on behalf of the company
- Special Resolution – Either of the following:
- Copy of Special Resolution certified by directors of the company
- Copies of consent from seventy-five per cent of the members based on the paid up share capital
- If there are any pending litigations against the company, it has to submit a statement of pending litigations
- Physical Copy of Form STK-2 signed by Director/MD/Manager/ Secretary if no DSC is available
- NOC i.e. No Objection Certificate from appropriate authority if required
What is the process for strike off of a company under FTE i.e Fast Track Exit Mode?