Strike off

When the Company has incorporated a Certificate of Incorporation is issued by the Registrar of Companies which acknowledges the existence of the Company. Once the name of the company is entered into registrar it cannot be removed unless the company applies to it or processed by law. When the company fails to commence its business or fails to submit yearly returns, the registrar by its may suo motto strike off the OPC.

One Person Company Strike Off:

Strike off the name of the company or winding up of the company is compulsorily required if the company is not in operation, to make the company free from all the legal compliance and to update the MCA database. The strike off application should be filed within 30 days from the date of signing the statement of Assets and Liabilities.

Advantages of Striking off / Closing an OPC:

• No Penalty – Once the closure is started, there is no need of the company to be worried about being in a state for paying the penalty fee for the causes that are not addressed.
• Free from Compliance – There is no need to be compliant since the company would be closed.
• Suitable Business – If the business that you have chosen is not running and yielding profits, then its resources can be used into a better one.