Business Plan - Venture Care 4.Not doing great – Take the fast track exit from | Page 5

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In case, the applicant name is not available in the database of directors maintained by
the Ministry, the application shall be accompanied by certificate from a Chartered
Accountant in whole time practice or Company Secretary in whole time practice or
Cost Accountant in whole time practice along with their membership number,
certifying that the applicants are present directors of the company. In such cases, the
applicants shall not be asked to file Form 32 and Form DIN 3.
The company shall disclose pending litigations if any, involving the company while
applying under FTE.
If the pending prosecutions are only for non-filing of Annual Returns and Balance
Sheet such application may be accepted provided the applicants have already filed the
compounding application. However, steps for final strike of the name of the company
will be taken only after disposal of compounding application by the competent
authority.
Companies not eligible to file form FTE:
(i) listed companies;
(ii) Companies that have been de-listed due to non-compliance of Listing Agreement or any
other statutory Laws,
(iii) Companies registered under section 25 of the Companies Act, 1956 or section 8 of
Companies Act 2013
(iv) Vanishing companies;
(v) Companies where inspection or investigation is pending or any proceedings are
pending in the court