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Need to Close Your Business? OneCallTax Makes It Easy!

  • Expert Support for Company Closure

  • Fast & Hassle-Free Strike Off

  • Transparent Government Fee Guidance

  • 100% Legal Compliance Assured

  • Avoid penalties and close your business legally with OneCallTax!

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Apply for Close or Strike-Off Your Company

Various Scenarios to Close or Strike-Off a Company as per the Indian Companies Act, 2013

1. Voluntary Strike-Off Under Section 248(2) for Dormant or Inactive Companies

  • If your company is no longer trading, has no debts, and is not required anymore, voluntary strike-off under Section 248(2) of the Companies Act, 2013 is the simplest and cheapest way to close it.

2. Compulsory Strike-Off by the Registrar of Companies (ROC) Under Section 248(1)

  • If your company fails to file annual returns or financial statements for two consecutive years, the Registrar of Companies (ROC) may issue a strike-off notice. You must act quickly to avoid legal consequences.

3. Winding Up Due to Insolvency Under IBC, 2016

  • If your business has outstanding debts and cannot pay creditors, winding up under the Insolvency and Bankruptcy Code, 2016 (IBC) is the best way to close it while complying with insolvency laws.

4. Members’ Voluntary Winding Up for Solvent Companies Under Section 271 & 272

  • If your company is still profitable but no longer needed, you can liquidate assets and distribute funds to shareholders tax-efficiently.

Things to Note Before Closing or Striking-Off a Company

Things to Note Before Closing or Striking-Off a Company

  • Ensure all statutory dues and liabilities are settled before applying for a strike-off.
  • All Income Tax, GST, and other statutory filings must be up to date with authorities.
  • Employee contracts, leases, and supplier agreements must be legally terminated.
  • Business bank accounts should be closed, and final payments made.
  • Directors must inform all stakeholders, including creditors, shareholders, and employees.

Required Agreements & Documents for Closing or Strike-Off

Voluntary Strike-Off Under Section 248(2) (Govt Fee: ₹10,000 Approx.)

  • Board Resolution for Strike-Off
  • Indemnity Bond and Affidavit from Directors
  • Statement of Accounts Not Older Than 30 Days
  • Income Tax Clearance Certificate (if applicable)
  • Form STK-2 for Strike-Off Application to ROC
  • Declaration of Solvency (for voluntary winding up)

Detailed Process for Closing or Striking-Off & Government Fees

Voluntary Strike-Off Under Section 248(2) (Govt Fee: ₹10,000 Approx.)

  • Directors must pass a Board Resolution for strike-off.
  • Obtain consent from shareholders (special resolution required).
  • File Form STK-2 with the ROC along with required documents.
  • ROC publishes a notice in the Official Gazette for objections.
  • If no objections are received within 90 days, the company will be officially struck off.

Winding Up Process (Govt Fee Varies)

  • Appoint an official liquidator.
  • Prepare final accounts and settle liabilities.
  • Notify statutory authorities, creditors, and employees.
  • Distribute remaining assets among shareholders.
  • Obtain clearance from ROC for final dissolution.

Detailed Timelines for Closing or Striking-Off a Company

Timeline for Company Closure

  • Voluntary Strike-Off: Takes 3-6 months (90 days for objections + processing time).
  • Compulsory Strike-Off: Can take 6-12 months, depending on regulatory interventions.
  • Members’ Voluntary Winding Up: Usually completed within 6-12 months.
  • Winding Up Due to Insolvency (IBC, 2016): Can take 1-2 years, depending on asset distribution.
  • How to close a company in India
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  • How to dissolve a business legally in India
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