Closure of OPC

Closure of OPC

The Process of closing a One Person Company (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 One Person Company.

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.

It is because, to make the OPC free from its legal and regulatory compliances and thus declare that closed, there is mandatory need of updating the ROC or MCA database related with the closing OPC. A One Person Company (OPC) may be wound up either voluntarily or by the order of the Tribunal. Also, an OPC which has been inoperative regularly for past one year, counted from the date of its incorporation, may apply for closure under the Fast Track Exit (FTE) scheme of the MCA. This webpage offers very informative and useful information regarding “how to close OPC – procedure for one person company closure“, together with the documents required for this purpose in India.

Documents Required for OPC Company Closure

  • Incorporation Documents – Company’s MoA – AoA, Certificate of Incorporation, PAN card and other registration certificates
  • Accounting Information – The financial statement of the Company for the most recent year, prepared prior to 30 days of filing the application
  • Details of Activity – Details whether the company has been operative for any period. If yes, since when the operations are discontinued
  • Legal Liabilities – A statement regarding pending litigations, if any involving the company
  • NOC from Creditors – Company must provide NOC for closure from creditors, if any (Draft to be provided by LW experts)
  • NOC from Regulatory Bodies – NoC for closure to be obtained from Income Tax Department, SEBI, RBI, etc. if relevant

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anmol ghai

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