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What is Closing a One Person Company (OPC)

Many entrepreneurs and business persons who have registered an OPC often have a common question, “How to close one person company?” Well, the process is quite similar to the closure of OPC. One Person Company or OPC is a significant milestone of the Companies Act 2013. This concept was introduced to help entrepreneurs and solo-founders quickly register their companies without the compulsion to get more partners. It enabled their business to function as a separate legal entity and offered all the benefits of a company.

Even though OPC has just one founder, it is legally required to follow compliances similar to other registered entities. This also includes a procedure to closing an OPC Company as per a set procedure laid down by the MCA. If the closure of OPC is not done correctly, it can warrant penalties and fines including the ones for non-compliance.


• Arranging the Documents

Arrange to provide the documents as per the checklist shared.

• Bank Closure

Close the bank account if available and arrange to provide closure certificate

• Documentation

Get NIL statement of accounts from Chartered Accountant and prepare documents as required to be attached for filing.

• Filing of Form

Filing of Form STK 2 with the Registrar of Companies within 30 days from the date of obtaining consent of the member for strike off the company.

Advantages of closing a Company

Compliance Free

There is no need of sticking on the track to stay compliant as the company would be dissolved anyway.

No Penalty

Once the closure is initiated there is no need of the company to be worried about being in a state to pay the penalty fee for the unaddressed causes.

Appropriate Business

If the business which you have chosen is not running and generating profits, then resources can be utilized into a better one.

Documents Required for OPC Closure

Indemnity Bond notarized by Directors (STK 3).

Latest financial statements

Statement of Accounts containing assets & liabilities of the Company

Affidavit in Form STK 4 by every Company.

Special Resolution or Consent of 75% Members.

Bank Account Closure Certificates.

PAN Card of the Company.

Board resolution for closure.

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All Inclusive

Drafting affidavits and supporting documents
Drafting Application
Statements of assets & liabilities


All Inclusive

Drafting affidavits and supporting documents
Drafting Application
Statements of assets & liabilities
Department follow up
Surrender of PAN
Surrender of TDS
Surrender of GST


All Inclusive

Drafting affidavits and supporting documents
Drafting Application
Statements of assets & liabilities
Department follow up
Surrender of PAN

Procedure to close a OPC


Eligibility for Strike Off

Our experts will determine, whether it is eligible for winding up under the Strike off Mode or not, this review process would get completed in 1 – 2 working days.

Document Preparation

Our team will prepare the necessary documents and get them notarized as required under the provisions for strike off Mode which will take approx 5-7 days.

Application Submission

Strike off application along with the necessary documents are submitted to the MCA, which is usually approved in about 35-40 days, subject to processing time.

Eligibility criteria for closing a OPC

  • The company applying under FTE should not have any asset and liability.
  • The company should not have commenced any business activity or operation since incorporation or at least one year must has been passed since last business activity or operation.
  • The Company has duly filed all the financials to the ROC, till the time of its closure.

FAQ’s About Closing a One Person Company (OPC)


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