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One Person Company is a separate legal entity just like Private Limited Company. The biggest advantage of a One Person Company is that there can be only 1 member/director in One Person Company. Since One Person Company is also a separate legal entity from its promoter, it provides limited liability protection to its sole shareholder, while continuing business and being easy to incorporate.

However, there will be times when one person's company may want to dissolve. The reason for the same, could be varying from Loss in Business to acquisition or merging by/with any other company. Just like other company's closure "One Person Company" can also be done by either winding up or striking off.

Winding up:-

In winding up One Person Company, a separate meeting has to be kept with a majority of creditors. Then the reason for the dissolution should be discussed and should come to a decision. If decided for closure, then the management board would have to file a request with the Commercial Registrar regarding the members closure resolution and the minutes of the meeting. Moreover, after this the One Person Company would have to assign a liquidator to manage with the process of winding up of company. Winding up is a time consuming process.

Striking off:-

Striking off is also known as Fast-track Exit Scheme(FTE scheme). The striking-off process can be carried forward with the STK-2 Form. Which has to be filed by ROC or by the company itself. Striking off is the process of removing the name from the records that the registrar has. But there are some pre-requisite conditions that should be met before striking off. The conditions are as follows:
1) The company should be a dormant company. There should not have been any business activities in the past 1 year.
2) It should not have any assets or liabilities. And you should get a NOC from your creditors as well.

Well throughout our plans




  • Wind Up a company with no transaction since incorporation

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  • Wind Up a company with no transaction since incorporation
  • Income Tax Return Filing For 1 Year
  • MCA Annual Return Filing For 1 Year
  • DIN KYC Filing For 2 Directors

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  • Wind Up a company with no transaction since incorporation
  • Income Tax Return Filing For 1 Year
  • MCA Annual Return Filing For 1 Year
  • DIN KYC Filing For 2 Directors
  • GST Return Filing
  • TDS Return Filing
  • Application for GST Cancellation
  • GSTR 10 Filing

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FAQs Section

    Closure of One Person Company is done when the company director or 75% of members decide that the services provided by them should be brought to halt.
    You would need consent from 2/3 of the creditors for closure and also you would have to pay off all liabilities.
    Once you file your application with MCA, it would take around 90 days for striking off One Person Company.
    From the date of signing off the assets and liabilities statement, you would get 30 days to file closure documents with the registrar.
    You would need to file Form INC-4 in case of withdrawal of consent by the nominee.
    No, you should always close off a dormant company since you would be saved from annual compliance cost, to avoid penalties, and also to not get defaulted by MCA.
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