Close a One Person Company

If an OPC is inoperative for more than one year from the date of incorporation then the owner may apply for closure of the company under the normal procedure or Fast Track Exit (FTE) scheme of the MCA. If not so it can be wound up voluntarily or by the order of the Tribunal. 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.