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FAQs on Strike Off Company in India

Do you own a Company? <br>Do you want to close down your Company?<br>There are many questions that might be arising about strike off Company in your mind. <br>Here we have made a compilation of the Most Frequently Asked questions.<br>

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FAQs on Strike Off Company in India

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  1. FAQs on Strike Off Company in India

  2. Do you own a Company? Do you want to close down your Company? There are many questions that might be arising about strike off Company in your mind. Here we have made a compilation of the Most Frequently Asked questions.

  3. Q.1)How can I close my Private Limited Company? • The closure of a limited company depends on whether it is solvent (able to pay its bills) or insolvent (unable to pay its bills). • If it is solvent, the easiest way to close it is for the directors to apply to Companies House to have it company struck off the register. Alternatively, you can start a members’ voluntary liquidation. • If your company is insolvent, the directors can propose a creditors’ voluntary liquidation process.

  4. Q.2) What does strike off of a company mean? • 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.

  5. Q.3) What is the procedure for Closing a Private Limited Company? • Shutting down a company is a long and complicated procedure. • A Private Limited Company can be closed down in various manners depending on the requirement of the owner. • The owner can sell the company. Can close down the company by declaring the company ‘Defunct'(Striking of the company). • Winding up or dissolving the company.

  6. Q.4) How long does it take to Strike off of a company?

  7. Q.5) What happens after the registrar strikes off the name of the Company?

  8. Q.6) Can a struck off company still trade?

  9. Q.7) In what conditions the Company’s name can not be struck off? The company can be struck off under following circumstances: • When a company has failed to commence its business within one year of its incorporation. • When a company is not actively carrying on any business or operation for a period of two immediately preceding financial years and has not made any application within such period for obtaining the status of a dormant Company.

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