Striking Off of Company

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What is Strike Off a Company - An Overview

Strike off Under Companies Act of 2013 is an official process for winding up a business. It involves the removal of its name from public records. Voluntary winding up of the company is done by filing a petition with the Registrar of Companies (ROC). Further, the company name is removed from the register by issuing a notice. The process is outlined in the Companies Act, 2013 allowing a straightforward dissolution.

Another effective method of dissolving a company is through removal from public records. Either the Registrar of Companies (ROC) may issue a notice requesting this or alternatively the business can ask themselves for this to occur directly with them. Section 248 to 252 of the Companies Act of 2013 describes this procedure.

Documents Required for Strike off Company

The following Draft documents of strike off company is required for striking off the company:

  • Board and shareholder resolutions
  • Financial statements
  • Tax clearance evidence
  • Asset and liability statement
  • Proof of dissolution or winding up
  • Consent of creditors
  • Consent of regulatory authorities
  • Other jurisdiction-specific documents may be required
  • It is advisable to consult legal professionals or government authorities for specific requirements.

Benefits of Strike Off Company

Strike-off Company Status

The strike-off company status refers to the state of a company that has undergone the process of striking off or dissolution. A company's legal existence ends when it is struck off, which removes it from the official register of companies. Depending on the jurisdiction, the particular steps and language may change, but the overall idea stays the same. | Once a company is struck off, it is considered inactive and no longer legally operational. The strike-off status indicates that the company has ceased its business activities, and its assets, liabilities, and affairs are generally dealt with according to the laws and regulations of the jurisdiction.

Striking Off of Company FAQ's

The time it takes to strike off a company can vary depending on the jurisdiction and other factors. For more information get in touch with us today.

No, you cannot buy a strike off of a company. A strike-off company cannot be bought or sold.

When a company is dissolved, the director's powers and responsibilities cease to exist.

When a company is struck off, it is removed from the official register of companies and ceases to exist as a legal entity. This means that it cannot trade, make payments, or sell assets. The directors and shareholders of the company also lose their limited liability protection, which means that they can be held personally liable for any debts or obligations of the company.

If a company is struck off by the authorities, the following will happen:
The company's name will be removed from the register of companies.
The company's bank accounts will be closed.
The company's assets will be transferred to the Crown.
The directors and shareholders of the company will be removed from the register of directors and shareholders.

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