Strike Off Company

AGRAWAL KANHERE ASSOCIATES

Strike Off Company

All you need to know

When the Company is incorporated, a Certificate of Incorporation is issued by the Registrar of Companies which acknowledges the existence of the Company. Once the name of the company is entered into the register it cannot be removed unless the company applies for it or is processed by law. When the company fails to commence its business or fails to submit yearly returns, the registrar may suo moto Strike Off the Company by sending a notice to the company at its registered office address.

Strike of Company Meaning:

If we go by the literal meaning of the strike-off then Strike Off means removing the name of the Company from the Register of Companies maintained by the Registrar of Companies. It is more like a Closure of the Company and the Company will not be in existence after being Struck Off and cannot perform any operation thereafter.

In case you want to Revive your struck-off company, you may get in touch with caagrawalkanhere.com.

It usually takes at least 3 months for a company to be officially dissolved, but the length of time can vary considerably if the process is complex. However, a company will cease to exist in not less than 3 months from the winding-up notice being advertised in the Gazette. However, some companies may apply under fast track exit mode for Striking Off its name.

The Companies can apply under fast track exit mode for striking off its name:

  • Companies that are not operating or not carrying on any business for the last two years from the date of application or,
  • Companies which are not operating or not carrying on any business within one year of incorporation and,
  • A company having Nil assets & liability.

Companies that are not eligible for Strike off:

As per the Companies Law, a company will not be eligible for strike off under the following circumstances

  • The company is incorporated after 2nd November 2018, but it has not filed 20A.
  • One year is not completed since incorporation.
  • For ongoing company i.e having business transactions in last 1-2 years.
  • DIN is deactivated.
  • Any director is disqualified.
  • The company has already received notice from ROC of strike off.
  • Any ongoing litigation are pending.

The process of removing an incorporated or registered company from the list of companies maintained by the state registrar can be conducted smoothly with caagrawalkanhere team just by sharing your company name. Application for the strike-off can be made by the Company that is actively working and also by a dormant company.

Company Strike-off procedure is an online process. You can also check the Company strike-off list in India from MCA records. An application for removal of the name of the company / Strike Off Company shall be made in Form STK-2 along with the prescribed fees.

Why caagrawalkanhere as your service provider for Private Limited Company strike off?

caagrawalkanhere.com is an eminent business platform and a progressive concept. It helps in end-to-end incorporation, compliance, advisory, and management consultancy services to clients in India and abroad. The process of Strike off a Private limited company is easy, cheap and quick at caagrawalkanhere.com. caagrawalkanhere.com also provides strike off LLP, Strike of OPC, Company annual filing services and Secretarial Compliance Services. You may get in touch with caagrawalkanhere compliance manager on 0755 276 1432 or email info@caagrawalkanhere.com for free query.

Closing a private limited company

A few pointers

Quick Closure

By submitting an application with the MCA in around three to six months, a corporation may also be closed. There is a quick exit procedure. The whole procedure can be finished online. You can easily and quickly close a firm thanks to it. .

Cheap

It is best to dissolve a dormant or inactive firm rather than complying with different regulations like filing, auditing, and filing returns. A business that is not active every year can reduce its compliance expenditures by doing this. .

Avoid Penalties Avoid Penalties

When a business doesn't submit its compliance on time, it faces fines and penalties, including the directors being barred from founding new businesses. So, it is wise to formally dissolve a defunct corporation to prevent further fines. .

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Documents required for Strike off Company

Quick Checklist

  • The approval of the business's creditors
  • An indemnity bond that each director properly notarized (in Form STK 3)
  • A Chartered Accountant-certified statement of liabilities listing all of the companies' assets and debts
  • A Form STK 4 affidavit signed by each director of the company
  • CTC of Special Resolution properly signed by each company director
  • The Directors' Electronic Signature
  • Directors' PAN and Aadhar cards
  • A letter of consent and an affidavit from its director
  • A statement regarding any ongoing legal action against the company

How to Wind up or Strike Off Company?

5 Easy Steps

1

Complete 1 simple form

2

Verification of documents by our experts

3

Application of Strike Off

4

Processing of Appliication

5

Your Company is under Strike Off Procedure

Fill Simple Checklist

A compliance manager will contact you to collect your paperwork and provide a brief checklist. You must complete that checklist and submit it with your supporting documentation for validation. The process will continue after the documents you submitted have been verified by our team of specialists. Throughout the process, the compliance manager assigned to you will keep you informed of the status of the company's strike. .

Strike off Application

We will begin filing all outstanding forms and papers, including form AOC 4 and MGT 7, which are for annual returns and financial statements, as soon as all of the information and supporting documentation you have provided has been confirmed. As well as preparing our own paperwork, such as an indemnity bond in form SKT 3 and an affidavit in form SKT 4, we will also proceed to file a strike-off company application in form SKT 2 with all required supporting documentation. .

ROC procedure

Once we have submitted the application for strikeoff, the ROC will publish a notice informing the public and asking objections, if any, to the planned strikeoff. The Registrar shall strike out the name and dissolve the Company whenever the ROC is satisfied with the provisions for realising all amounts due to the company, paying or dischargeing its liabilities, and realising all payments due to the company. The Official Gazette will publish notice of the dismissal and dissolution. .

FAQs On Strike Off Company

Get answers to all your queries

Strike Off means removing the name of the Company from the Register of Companies maintained by the Registrar of Companies. It is more like a Closure of the Company and the Company will not be in existence after being Struck Off and cannot perform any operation thereafter.
Shutting down a company is a long and complicated procedure. A Private Limited Company can be closed down in various manners depending on the requirements of the owner. The owner can sell the company. Can close down the company by declaring the company ‘Non -operational” (Striking of the company). Winding up or dissolving the company.
Strike can be done only after 1 yr of incorporation even without an annual filing subject to active DIN and NO business since 1 yr. Note: 20A filing compulsory if co. is incorporated after 2nd Nov 2018
When a company is struck off, the name would be removed from the company register and it can not trade, sell its assets or make payments or even it can not get involved in any other business activities.
The company can be struck off under the following circumstances: When a company has failed to commence its business within one year of its incorporation. When a company is not actively carrying on any business or operation for a period of two immediately preceding financial years and has not made any application within such a period for obtaining the status of a dormant Company.
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