Running a company in profit is a prime motive of every promoter or founder of a company. As on date, there are two ways to close a company. 1. Strike off company 2. Winding up of company

1. Companies Strike
Off Rules,
Procedure,
Availability

2. Introduction
Running a company in profit is a prime motive of every promoter or founder of a company. As on
date, there are two ways to close a company.
1. Strike off company
2. Winding up of company

3. What is meant by striking off of company name?
• Striking off of company simply means closing of a defunct company, in fast way. It is
simplest way to close a company.
Note : The companies are governed by the companies Act, 2013 and its section 248
governs the striking off of company.
What are ways to strike off a company?
A company can get strike off in two ways:-
A) By company itself as Voluntary Striking off
B) By Registrar of Companies

4. Eligibility
Criteria for
Companies
to opt for
Strike Off:
The following companies are eligible for opting for strike off:
• A company which has failed to commence its business within one year of its
incorporation; or
• A company which is not carrying on any business or operation for a period of 2
immediately preceding financial years and has not made any application within
such period for obtaining the status of a dormant company under section 455.

5. Companies on whom Strike off under
Section 248 is Not Applicable
Listed companies;
• Companies that have been delisted due to non-compliance of listing regulations or listing agreement or any other statutory laws;
Vanishing companies;
• Companies where inspection or investigation is ordered and being carried out or actions on such order are yet to be taken up
or were completed but prosecutions arising out of such inspection or investigation are pending in the Court;
• Companies against which any prosecution for an offence is pending in any court;
• Companies whose application for compounding is pending;
• Companies which have accepted public deposits which are either outstanding or the company is in default in repayment of the
same;

6. Checklist for Strike Off
The procedure is very simple and is done step wise:-
i) Authorize officer or any director of company to convene a Board Meeting
ii) Sending of Board Meeting Notice atleast seven (7) days prior to board meeting along with detailed agenda.
iii) Convene Board Meeting and passing of Board resolution.
iv) Sending of Annual General Meeting / Extra-Ordinary General Meeting as the case may be
v) Convene General meeting and passing of Special Resolution.
vi) Filing of STK-2 along with required documents.
vii) Registrar of companies after finding that all the attachments are fine and all the conditions are fulfilled and it is just and equitable
to strike off the company, will strike off the company after publishing a public notice.

7. What are
the
documents
which are
required to
attach with
the forms?
A company may file an APPLICATION in the Form STK-2 (shall be accompanied by certain
prescribed documents) along with the fee of Five Thousand Rupees for removing the name of the
company from the Register of Companies, after extinguishing all its liabilities.
The main ingredients for such an application are:
• Application in form STK-2.
• Government filing fees: INR 10,000/-
• Copy of Board resolution authorizing the filing of this application.
• A statement of accounts showing nil assets and liabilities of the Company which shall b
not more than thirty days before the date of application and certified by a Chartered
Accountant.
• Shareholder’s approval by way of Special Resolution.
• Affidavit in Form No. STK-4.

8. How long it takes to strike of company
name from the register of companies?
• Once an application is made for striking off of company by filing E-form STK-2, the concerned Registrar of Companies (ROC)
after verifying the documents will strike off the name of company and this procedure normally takes 3-4 month.
• However, if any objection is received from Registrar of Companies (ROC) this process might take extra time or even reject the
application.

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