Strike-off — Glossary

◈Definition

Strike-off is the process by which a company's name is removed from the Register of Companies, terminating its legal existence. It can be initiated voluntarily by the company (fast-track exit under Section 248(2)) or by the ROC on its own motion (Section 248(1)) where the company has failed to file returns, has not commenced business, or is not carrying on any business for two or more years. Struck-off companies can be restored by application to the NCLT within 20 years.

◉See also

Dormant Company
A company that has declared inactivity under Section 455 of the Companies Act.
Amalgamation
The merger of two or more companies into a single surviving entity.
Liquidation
The formal winding-up of a company, realisation of its assets, and distribution to creditors and shareholders.

⬢Related guide

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