Information sharing platform related to Corporate , Taxation & Insolvency Laws.

Striking-off of LLP (LLP Closure Process) Any LLP can close down its business by adopting any of the following two ways: A)          Declaring the LLP as Defunct   In case the LLP wants to close down its business or where it is not carrying on any business operations for the period of one year or more, it can make an application to the Registrar for declaring the LLP as defunct and removing the name of the LLP from its register of LLP’s. eForm 24  is required to be filed for striking off the name of LLP under clause (b) of sub rule 1 of Rule 37 of LLP Rules 2008 . Similarly, Registrar also has the power to strike off any defunct LLP after satisfying himself of the need to strike off and has reasonable cause. However, in this case, registrar has to send a notice to the LLP of his intention and request to send their representation within one month from the date of the notice. Th...

  Strike-off of Companies From the Register of Registrar of Companies under the Companies Act, 2013 Meaning of Strike-off:- “Strike-off” implies removal of name of Company by Registrar of Companies (ROC) from the ‘Register of Companies’. Striking-off is a kind of dissolution process. Striking off of company simply means closing of a defunct company, in fast way. It is simplest way to close a company. Ground on which ROC can issue the Notice of Strike-off under Section 248(1): Section 248 provides that in case the Registrar has reasonable grounds to believe that- ü   A Company has failed to commence its business within one year of its incorporation or ü   A Company is not carrying on any business or operation for the period of two immediately preceding financial years and has not made any application within such period for obtaining the status of a dormant Company under Section 455 ü   The subscribers to the memorandum have not paid the subscription whic...