Company strike off refers to the process by which a company is officially removed or struck off from the register of companies, ceasing to exist as a legal entity.

1. Amendments in Striking Off Provisions: Making Exit Difficult

2. Introduction
Company strike off refers to the process by which a company is officially removed or struck
off from the register of companies, ceasing to exist as a legal entity.
The strike off process is initiated by the company itself or by the relevant government
authorities, such as the Companies Registrar or similar regulatory bodies.

3. Importance Of Striking Off Provisions
Simplicity and Clarity: Over time, legal documents or regulations
may accumulate provisions that are outdated, redundant, or
contradictory.
By striking off unnecessary or conflicting provisions, the document
becomes simpler and easier to understand.
Flexibility and Adaptability: Striking off provisions allows legal
frameworks to evolve and adapt to changing circumstances.
As societal, economic, or technological conditions change, certain
provisions may become obsolete or hinder progress

4. Recent Amendments
The recent amendments made to the
striking off provisions aim to strengthen
the scrutiny, documentation, and timeline
requirements for companies seeking to be
struck off the official register.
Increased scrutiny means that striking off
applications will undergo more rigorous
examination.

5. Reasons For Making Exit Difficult
Combating Fraud: One of the primary reasons for making the
striking off process more challenging is to combat fraudulent
activities.
By imposing stricter measures, authorities aim to deter individuals
or companies from engaging in fraudulent process more
challenging is to protect stakeholders, including creditors,
employees, and customers.
Protecting stakeholders: Making the process of company
closure more stringent helps protect stakeholders, including
creditors, employees, and customers.

6. Implications For Companies
Increased administrative burden: The amendments may impose additional administrative
requirements on companies, resulting in an increased burden.
Lengthy process: The extended timelines for closing down dormant or defunct companies
can cause delays. This delay may result in additional costs, such as maintenance fees,
taxes, and other regulatory obligations associated with keeping the company active

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