Striking off a company is a process to remove its name from the official register, indicating it is no longer in business. This procedure can be initiated voluntarily by the company or by the Registrar of Companies (ROC) under certain conditions.

For voluntary strike-off, the company must first settle all liabilities and obtain consent from its shareholders through a special resolution. The company then files Form STK-2 with the ROC, including a statement of accounts, an affidavit, and indemnity bonds from directors, along with the special resolution.

The ROC examines the application and, if satisfied, publishes a public notice inviting objections within 30 days. If no objections are received, the ROC strikes off the company and publishes the notice in the Official Gazette.

Involuntary strike-off occurs if the company fails to commence business within a year of incorporation or has not carried on any business for two consecutive financial years. Properly striking off ensures that the company is legally dissolved, releasing directors and shareholders from ongoing compliance obligations.