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Strike Off of Company/ LLP

Strike off of a Company/ LLP is the stage where a company/ LLP is closed since its has outlived its utility. The main stages of a Company are incorporation (Read in detail here), operational stage and dissolution.

Strike off means that the name is struck off the Register of Companies/ Register of LLPs. It ceases to function as a corporate entity.

 

Strike off of name of Company:

The following are the steps towards strike off:

  1. Meeting of Board of Directors –  To convene a General Meeting with the draft resolutions. (The draft resolutions shall also mention the reason for strike- off, grant of authority to the directors to file the form and execute the affidavits, proposed resolution and proposed explanatory statement)
  2. General Meeting – Pass draft resolutions (with or without modification) and grant authority to the directors to give effect to the same.
  3. Execute indemnity bonds and affidavits/declarations in prescribed format.
  4. Obtain statement of assets and liabilities as on nearest date.
  5.  File Form STK-2 with the prescribed form and attachments.
  6. Once the STK-2 form is approved on a prima facie basis, the Registrar shall issue a public notice.
  7. After completion of the public notice, the form is approved if there are no public objections.

 

Strike off of LLP:

Our team will help you with the following steps involved in strike off:

  1. Drafting of Resolution of the partners for filing of Form 24 and granting authority to one designated partner to give effect to the resolution
  2. Obtaining statement of assets and liabilities
  3. Declarations and Affidavits from designated partners.
  4. Filing of Form 24.
  5. Once the Form 24 is approved on a prima facie basis, the Registrar shall issue a public notice u/s 75.
  6. After completion of the public notice, the form is approved if there are no public objections.

 

Note:

Before and after the Company/ LLP is struck off, the other registrations should also be surrendered:

  1. PAN
  2. GST
  3. Other registrations like Professional taxes, Labour registrations etc.

Our corporate compliance team has experts who have considerable experience and expertise in strike-off including both secretarial process and tax related issues.

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