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What is Company Closure ?

According to the definition given by the Registrar of Companies, "strike off" refers to deleting the company's name from the Register of Companies. It is more akin to the company closing, and once it is struck off, it will cease to exist and be unable to carry out any further business.

The official dissolution of a firm typically takes at least three months, though this might vary greatly depending on how complicated the process is. On the other hand, a corporation that receives a winding-up notice published in the Gazette will automatically dissolve after three months. On the other hand, certain businesses might submit an application for Striking Off's fast track exit option.

Conditions When Company Can’t Go for Striking off

• 1.) The company is incorporated after 2nd November 2018, but it has not filed 20A.

• 2.) One year is not completed since incorporation.

• 3.) For ongoing company i.e having business transactions in last 1-2 years.

• 4.) DIN is deactivated.

• 5.) Any director is disqualified.

• 5.) The company has already received notice from ROC of strike off.

• 6.) Any ongoing litigation are pending.