Fast Track Exit (FTE) Scheme is a mechanism provided by the Ministry of Corporate Affairs (MCA) for the speedy closure of defunct companies that have not been carrying out any business activities or operations for a certain period of time.
Under this scheme, a company that is inactive for at least one year since its incorporation or has not commenced business operations after incorporation can apply for the fast-track exit option.
The scheme aims to simplify the procedure for closing such companies and reduce the compliance burden for them.
