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.
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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.
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 Barrister Babu.
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.
As per the Companies Law, a company will not be eligible for strike off under the following circumstances:
The process of removing an incorporated or registered company from the list of companies maintained by the state registrar can be conducted smoothly with Barrister Babu 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.
Barrister Babu 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 Barrister Babu.
A company can also be closed by filing an application with the MCA in about 3 to 6 months. There’s a fast track exit process. The entire process can be completed online. It makes it easy and quick for you to close a company.
Rather than complying with various norms such as filing, audit, returns etc, it is advisable to wind up a company that is dormant or non-active company. This saves compliance costs of a company that is not in action every year.
A company that doesn’t file its compliance on time incurs fines and penalty including debarment of the Directors from starting another Company. so it is advisable to legally wind up a dormant company and avoid fines in the future.