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Which information needs to be filled in Form STK-2 for strike off under FTE?

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Sakshi Shah

Form STK-2
FTE
Start & Run Business
Winding Up
Last updated on May 5th, 2021

Fast Track Exit mode is an easy mode of closing non-operating companies at cheaper cost with lesser formalities under section 248. A Non-Operative Company making application for strike off under the Fast Track Exit Mode i.e. FTE needs to file Form STK-2.

Here is a list of information required while filling Form STK-2:

  1. Basic information of the applicant company. It is available on the MCA Portal.
    • CIN i.e. Corporate Identification Number
    • Date of Incorporation
    • Objects of the company as per the MOA ( Memorandum of Association)
    • Description of the last business activity carried on by the company
    • Status i.e. listed, delisted, registered with SEBI / NBFC / IRDAI
    • DIN i.e. Director Identification Number of all the directors [Which Companies can apply for strike off under FTE?]
  2. Date of passing special resolution passed for removal of the name.
  3. Date of the board resolution authorising a director to sign the form.
  4. The company should attach documents duly signed by the directors and a practising professional. [Which documents are required to make application for strike off under FTE?]
  5. Membership Number of the practising professional attesting Form STK-2.

FAQs

How do I file a STK 2?

To file Form STK-2, the company should have extinguished all its liabilities and execute a special resolution for removal of company name from register of companies with the consent of 75% of members in terms of paid-up share capital.

What happens after registrar strikes off the name of company?

When a company is struck off, the name would be removed from the company register and it can not trade, sell its assets or make payments or even it can not get involved in any other business activities

What is Fast Track Exit Mode?

Fast Track Exit mode is introduced by Ministry of Corporate Affairs for giving 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 closing non-operating companies at cheaper cost with lesser formalities under section 248.

Got Questions? Ask Away!

  1. Hey @Sofiyah_Valiante ,

    Following companies can apply for strike off under FTE:

    1. A company that has not commenced any business for one year from its date of incorporation. OR
    2. A company that has not carried any business activity for a period of two immediately preceding financial years and has not made any application to attain the status of a dormant company under Sec 455 of the Companies Act 2013

    The following companies cannot apply for strike off under FTE:

    1. Listed companies
    2. Vanishing companies
    3. Companies registered under Section 25 or Section 8 of the Companies Act 2013
    4. De-listed companies due to non-compliance of listing agreement or any other statutory laws
    5. Companies where investigation or inspection has been ordered but prosecutions are pending in court
    6. Companies where prosecution for an offence is pending in court
    7. A Company having an outstanding loan secured or unsecured
    8. A Company having management dispute
    9. Companies accepted deposits which are outstanding or default in repayment
    10. Companies whose application for compounding is pending before the competent authority. It may be for compounding the offences committed by the company or any of its officers in default
    11. The Company for which filing of documents have been stayed by court or Company Law Board (CLB) or Central Government or any other competent authority;
    12. Company with pending dues of income tax or sales tax or central excise or banks and financial institutions or government departments or local authorities
    13. Companies, where notice u/s 234, 206 or 207 of the Companies Act, 1956 has been issued by ROC and reply is pending
    14. If at any time in the previous 3 months the company:
    • Has changed its name or shifted its registered office from one state to another
    • Has made a disposal for value of property or rights held by it immediately before carrying on business for earning a profit in the normal course of trading
    • It has made an application to the Tribunal for sanctioning of a compromise or arrangement and the matter has not been finally concluded
    • It has engaged in an activity other than the one which is necessary for the purpose of making an application under that section, or deciding whether to do so or concluding the affairs of the company or complying with any statutory requirement
    • Is being wound up under Chapter XX of this act or under the Insolvency and Bankruptcy Code, 2016

    Hope I have resolved your query!