Striking off a One Person Company (OPC) is a formal process under the Companies Act, 2013 for removing an inactive or non-operational company from the Register of Companies. An OPC can apply for strike off if it has not commenced business within one year of incorporation or if it has ceased its operations for a period of two years. The process begins by filing Form STK-2 along with supporting documents such as board resolution, statement of accounts certified by a Chartered Accountant, and an affidavit and indemnity bond by the sole member and director. The Registrar of Companies (ROC) will examine the application and, if satisfied, will issue a public notice and proceed with striking off the name. Once this is completed, the OPC is no longer legally recognized and cannot carry on any business operations.
Conclusion: Strike off of an OPC is a practical exit route for entrepreneurs looking to close their inactive or dormant company in a lawful and efficient manner.