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Section 248 Companies Act 2013 provides two strike-off routes. (i) ROC's suo moto strike-off where the company has not commenced business within 1 year of incorporation, or has not filed financials/annual returns for two consecutive years, or has not been carrying on business or operation for the preceding two years. (ii) Voluntary strike-off ("easy exit") on application by the company in Form STK-2, with director-shareholder consents and indemnity. Strike-off does not extinguish liabilities — Section 250 preserves contingent liabilities for 20 years.
Statutory reference
Section 248 Companies Act 2013
Related practice areas
Closure procedure for inactive companies. ROC can strike off a company that has not commenced business within one year of incorporation, or has not filed financials/annual returns for two preceding years.
Company Strike-Off is governed by Section 248 Companies Act 2013. Section 248 Companies Act 2013 provides two strike-off routes. (i) ROC's suo moto strike-off where the company has not commenced business within 1 year of incorporation, or has not filed financials/annual returns for two consecutive years, or has not been carrying on business or operation for the preceding two years. (ii) Voluntary strike-off ("easy exit") on application by the company in Form STK-2, with director-shareholder consents and indemnity. Strike-off does not extinguish liabilities — Section 250 preserves contingent liabilities for 20 years.
Company Strike-Off falls under Corporate & Business. NyaySevak matches you with a Bar-Council-verified advocate in the relevant practice area — the first consultation is free.