Fast Track Exit Scheme
Companies Act 2013 provides provisions for closure of MSME companies under Fast Track exit system without intervention of NCLT or any court order.
Section 248 of Companies Act 2013 provides for companies to file an application with Registrar of Companies through online mode (MCA portal).
Generally, the closure of company is a painful step from personal as well as compliance issues. However, this scheme has provided a step measure to reduce such pain by reducing the compliance formalities as well as compliance costs.
