Fast track exit scheme

Swati Fitkariwala (Service) (33 Points)

14 February 2017  

Dear All,

A Private Limited Company, Date of Incorporation is 26.10.2015 and is contemplating winding up under the FTE scheme.

In this case, my queries are:

  1. There has been no business activity in the company but the company has employed 4 employees and paid them salaries from April 2016 till date. Would that be considered as ‘ Operations’?
  2. The year ending of the company is 31 March, 2017. Do we wait until the completion of the year or we can prepare the statement of account as on date for the winding up? Does the issuance of the statement of account pre-requisite the completion of the audit?
  3. 99% of the share capital is held by a foreign company (related company) and 1% by the NRI director. Anything to be addressed from FEMA/IT perspective? 

If anyone can provide me with the clarifications, please revert. You may also whats app at 9831270772. 

Thanks

Swati Fitkariwala

(M)+91 9831270772