To help defunct companies and inoperative companies to wind up its business without following many procedures, Companies act, 2013 vide Section 248 has provided an option of applying for removal of its Company’s name from the Registrar by filing an application in a prescribed manner to the Registrar. Earlier Ministry of Corporate Affairs has issued Fast Track Exit (FTE) Mode opportunity to the defunct companies to get their names struck off from the register in time bound manner. This was given as guidelines in Companies act 1956, however, now the same option is been embedded in Section 248 of Companies Act, 2013.