Business Plan - Venture Care 4.Not doing great – Take the fast track exit from | Page 6

(vii) Companies against which prosecution for a non-compoundable Offence is pending in
court;
(viii) Companies accepted public deposits which are either Outstanding or the company is
in default in repayment of the same;
(ix) Company having secured loan;
(x) Company having management dispute;
(xi) the company in respect of which filing of documents have been stayed by court or
Company Law Board (CLB) or Central Government or any other competent authority;
(xii) the company having dues towards income tax or sales tax or central excise or banks
and financial institutions or any other Central Government or State Government
Departments or authorities or any local authorities.
Who are eligible to apply under for Fast Track Exit Scheme:
1. Companies having assets and liabilities as NIL
2. Company is inoperative since date of Incorporation or 1 Year or more
3. The company has closed down its bank account.
PROCEDURE TO BE ADOPTED BY REGISTRAR OF COMPANIES IN THIS MATTER:-
(a) The Registrar of Companies, on receipt of the application, shall examine the same and if
found in order, shall give a notice to the company under section 560(3) of the Companies
Act, 1956 by email to its e-mail address intimated in the Form, giving thirty days’ time,