Striking off a Private Limited Company refers to the formal process of removing the company’s name from the Register of Companies maintained by the Registrar of Companies (ROC). This is done when a company is no longer operational or wishes to close its business voluntarily. The process is governed by Section 248 of the Companies Act, 2013. A company can apply for strike off if it has not commenced business or has ceased operations for the past two years. To initiate the process, the company must file Form STK-2 along with necessary documents like Board resolution, consent of shareholders, indemnity bonds, and affidavits. Before applying, the company must settle all liabilities and ensure compliance with statutory filings. The ROC reviews the application and, if satisfied, publishes a notice in the Official Gazette before striking off the name.
Conclusion: Strike off is a legally recognized way to close an inactive company, but it must be done with complete compliance to avoid future legal complications.