Save Rs 499 on a 2-Year Ad-Free CAclubindia Pro Membership. Subscribe Now!

Private limited company strike off

291 views

Save Share

Shishir

Professional

34 Points Posted on 22 February 2021

If a private limited company has a good amount of funds in it, can we request it to be strike off from ROC..
If there are no creditors.

Replies (3)

Quick Summary

This discussion explores the possibility of striking off a private limited company from the ROC when it holds significant funds. It clarifies that a strike-off is only possible through formal winding-up procedures under the Act or the Insolvency and Bankruptcy Code 2016, not simply by distributing funds. While operations can cease for a period, adhering to the specific checklists for winding up or insolvency is mandatory.

yasaswi gomes

My grammar is 💯 good I

7306 Points Posted on 25 February 2021

Not possible. Only when it is being wound up under Chapter XX of this Act or under the insolvency and bankruptacy code 2016

Shishir

Professional

34 Points Posted on 26 February 2021

Can the money not be distributed among the shareholders before we go for strike off?

yasaswi gomes

My grammar is 💯 good I

7306 Points Posted on 26 February 2021

There are checklists for winding up and insolvency acts. You have to follow them. But you can stop making sales and operations for two or three years before winding up. Please refer to those rules