Company Closure in India: Legal Process, Documents and Compliance
Running a company is not always a long-term journey. Business plans change, projects come to an end, partners move on, or a company may simply remain inactive for years. In such situations, keeping a company registered can mean continuing to deal with annual filings, statutory records and other compliance requirements. If there is no intention to continue the business, closing the company properly can be a practical option. In India, however, company closure is not simply a matter of shutting the office or stopping business activities. The company has to complete the required legal and financial formalities before its name can be removed from the Register of Companies. For eligible companies, one of the commonly used routes is striking off the company's name under Section 248 of the Companies Act, 2013 . The Ministry of Corporate Affairs (MCA) currently processes voluntary strike-off applications through the prescribed procedure, including Form STK-2. What Does Company Closure Me...