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 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 motto Strike Off the Company by sending 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 teamaikarguru.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 which are not operating or not carrying on any business since last two year from the date of application or,
- Companies which are not operating or not carrying on any business within one year of incorporation and,
- 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 are deactivated.
- Any director is disqualified.
- 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 state registrar can be conducted smoothly with Team Aikar Guru has team just by sharing your company name. Application for the strike off can be made by the Company who 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 name of the company / Strike Off Company shall be made in Form STK-2 along with the prescribed fees.