FastTrack exit mode

As per sec 248 of Companies Act 2013, a registrar can remove name of firm only after it full fills the following conditions

(1) Where the Registrar has reasonable cause to believe that—

(a) a company has failed to commence its business within one year of its

incorporation;

(b) the subscribers to the memorandum have not paid the subscripttion which

they had undertaken to pay within a period of one hundred and eighty days from the

date of incorporation of a company and a declaration under sub-section (1) of section 11

to this effect has not been filed within one hundred and eighty days of its incorporation;

or

(c) a company is not carrying on any business or operation for a 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

(2) Without prejudice to the provisions of sub-section (1), a company may, after

extinguishing all its liabilities, by a special resolution or consent of seventy-five per cent.

members in terms of paid-up share capital, file an application in the prescribed manner to the

Registrar for removing the name of the company from the register of companies on all or any

of the grounds specified in sub-section.

From the above clause it is clear that company needs to extiguish all its liabilities before applying for stricking off of name.

I hope this helps !!