Business Plan - Venture Care 4.Not doing great – Take the fast track exit from | Page 7

stating that unless cause is shown to the contrary, its name be struck off from the Register
and the company will be dissolved;
(b) The Registrar of companies shall put the name of applicant(s) and date of making the
application(s) under fast track exit mode, on a daily basis, on the MCA portal
http://www.mca.gov.in/, giving thirty days’ time for raising an objection, if any, by the
stakeholders to the concerned Registrar;
(c) In case of company(s) like Non-Banking Financial Company(s), Collective Investment
Management Company(s) which are regulated by other Regulator(s) namely RBI, SEBI, the
Registrar of Companies, at the end of every week, shall send intimation of such companies
availing fast track exit mode during that period to the concerned Regulator(s) and also an
intimation in respect of all companies availing fast track exit mode during that period to the
office of the Income Tax Department giving thirty days’ time for their objection, if any;
Explanation (1) “Non-Banking Financial Company” means a company as defined under
clause (f) of section 45-I of the Reserve Bank of India Act, 1934.
(2) “Collective Investment Management Company” means the company as defined in clause
(h) of sub-regulation of 2 of Securities and Exchange Board of India (Collective Investment
Companies) Regulations, 1999.
(d) The Registrar of Companies immediately after passing of time given in sub-paras (a) to
(c) of this Para and on being satisfied that the case is otherwise in order, shall strike its
name off the Register and shall send the notice under sub-section (5) of section 560 of the
Companies Act, 1956 for publication in the Official Gazette and the applicant company shall
stand dissolved from the date of publication of the notice in the Official Gazette.
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Closing a ltd company