Close Your One Person Company (OPC) with Rebizco
If your One Person Company (OPC) has been inactive for over a year, it’s time to consider officially closing it. The Ministry of Corporate Affairs (MCA) offers closure options such as voluntary winding up or the Fast Track Exit (FTE) scheme. Without a formal closure, the OPC must continue to meet regulatory obligations and file annual returns despite being inactive.
At Rebizco, we simplify the OPC closure process, ensuring full legal compliance while relieving you from ongoing regulatory responsibilities.
What is OPC Closure?
A One Person Company (OPC), as defined under Section 2(62) of the Companies Act, 2013, is a company with a single shareholder. If an OPC becomes inactive and no longer intends to operate, it can apply for closure to:
• Eliminate future legal compliance requirements.
• Settle any outstanding liabilities.
• Relieve the director from personal legal and financial obligations.
• Avoid penalties for non-filing.
Before initiating the closure, all financial dues must be settled and a No Objection Certificate (NOC) must be obtained from creditors.
Closure Process: Step-by-Step with Rebizco
• Step 1: Board Resolution – Pass a resolution confirming the decision to close the OPC.
• Step 2: Application for Strike-Off – File the strike-off application with the ROC, supported by all required declarations.
• Step 3: Affidavit and Consent – Provide an affidavit and written consent from the sole director.
• Step 4: Creditor NOC – Obtain a No Objection Certificate from creditors confirming that all dues are settled.
• Step 5: Statement of Accounts – Submit a statement of accounts showing no assets or liabilities, certified by a Chartered Accountant.
• Step 6: Supporting Legal Documents – Include an Indemnity Bond, Director’s declaration, and other necessary attachments.
• Step 7: ROC Review & Gazette Notification – The ROC will review and, upon satisfaction, publish a notice in the Official Gazette confirming closure.
Benefits of Closing Your OPC
• Relief from Compliance Burden
• Eliminates Ongoing Financial & Legal Liabilities
• Prevents Penalties for Non-Filing
• Enables Focus on New Ventures
• Facilitates Business Transition
• Streamlined Exit Strategy
• Protects Reputation with Clean Legal Records
Documents Required
To initiate your OPC closure, you’ll need:
• Certificate of Incorporation
• Memorandum & Articles of Association
• Updated statement of accounts (not older than 30 days)
• Assets & Liabilities statement
• Affidavit from Director
• Consent letter from the Director
Why Choose Rebizco for OPC Closure?
• ✔ Expert Compliance Team – Legal experts manage filings and documentation.
• ✔ Zero Hassle Process – We handle the paperwork, follow-ups, and ROC coordination.
• ✔ Tailored Support – Personalized service to fit your company’s structure and needs.
• ✔ Cost-Effective Solutions – Transparent pricing with no hidden charges.
• ✔ Timely Execution – Speedy processing ensures your closure is not delayed.
FAQs: Close One Person Company (OPC)
• Q: Why should I close my inactive OPC?
A: To avoid ongoing compliance burdens, legal obligations, and potential penalties.
• Q: What key documents are needed?
A: You’ll need financial statements, incorporation papers, affidavits, NOC from creditors, and consent from the director.
• Q: Can I close an OPC voluntarily?
A: Yes. If the company is inactive for over a year, voluntary closure under the FTE scheme is available.
• Q: How long does OPC closure take?
A: With accurate documents and expert handling, closure can typically be completed within 3–6 months.
• Q: Can an OPC be reopened after closure?
A: No. Once closed and struck off from ROC records, the OPC cannot be reopened. A new incorporation is required.
• Q: Is professional help necessary for OPC closure?
A: While not mandatory, professional assistance ensures compliance, avoids delays, and prevents errors.
