Process Of Striking Off - A Private Limited Company in RJSC
The Registrar of Companies issues a Certificate of Incorporation upon incorporation of the company, which acknowledges its existence. Once a company name is entered into the register, it cannot be removed unless the company requests it or if the law requires it. If the company fails to commence its business or submit its annual reports, the registrar may sue motto strike off the company by sending a notice to its registered office address. The feeling of closing a business is understandable. Our most empathetic packages can help you manage the cost to close it. Our team can provide you with advice on the criteria for striking-off that must be considered before striking-off takes place.
How To Strike Off a Limited Company
An organization must have not engaged in any of the following activities for at least three months before it can use the strike off procedure outlined in the form:
- Traded (or otherwise conducted business)
- Property or rights owned by the business.
- Name changed
Any activity other than those required to dissolve the company, close or comply with a legal requirement.
How Do You Start a Company Write-Off?
There are a few things you’ll have to settle before you can proceed with a strike off. It will depend on the nature of your business, but you may need to:
- Make sure you follow the detailed redundancy rules
- Pay any staff their final salaries and wages
- Prepare the final financial statements and the tax return for the business.
- Eliminate the payroll system within the company
- Deregister from VAT
Why Should You Choose Us To Help You Write-Off Your Company?
The best way to get started is to stop talking and start doing!
What Makes Us The Best For Write-Off Company Service in Bangladesh?
Are you planning to close your Bangladeshi business? Many entrepreneurs have closed their business for various reasons. Economic uncertainty, the lack of funds, and stiff competition are the primary reasons for closures.
There are steps to closing a business, no matter what the reason may be. You may not be willing to go through the closing process when you make the painful decision. It’s here where our company strike off service can help ease your worries.
Our strike off company service is most popular because we provide constant support. Many business owners assume the problem ends once the company is closed.
Despite this, future problems may arise. The registrar may need clarification on certain documents (if cited by a third party). We offer enhanced support to address these issues. You pay once and enjoy our services for years to come.
The majority of business owners think of winding up their business to close it. Another solution is to wind up, however that is more formal. The assets of the company should be realized and distributed by a liquidator in this case.
Striking off is usually a better option for businesses that have not been active or for those that do not own assets or liabilities. Alternatively, an insolvent firm can only be wound up. This point can be addressed in comprehensive detail by a company dedicated to the strike-off process.
According to the Companies Law, the following situations will not trigger a company’s strikeoff:
1. The company was incorporated after 2nd November, 2018, but it has not filed Form 20A.
2. One year has not passed since incorporation.
3. Continuing companies that have had business transactions within the past two years.
4. The DINs have been deactivated.
5. Directors are disqualified.
6. The company has already received a strike-off notice from ROC.
7. There are no pending lawsuits.
Our 3 Principle Work For Company Strick Off Services
1. The Company shall hold a Board Meeting to approve the name change
2. The company shall convene the General Meeting of Shareholders and pass the Special Resolution or obtain the Consent of at least 75% of the shareholders for such a strike off.
3. The company is regulated by any other authority that takes approval from them.
4. the company shall submit a form STK-2, after taking approval.
5. Within 30 days after receiving an application, ROC shall publish a public notice STK-6. Objections must be submitted within 30 days of receiving the notice.
6. After the prescribed period from the date of publication of the notification in the gazette notification of Bangladesh, the ROC shall strike off the name and dissolve the company.
You can complete the form at companies house.com or by downloading it from their website.
It is thankfully straightforward to complete the form. You will need to include:
1. A company number
2. Company name and address
3. Signature(s) of the company’s officers authorizing the strike-off
4. A majority of the directors should sign the form. If there are two directors, both should sign.
An organization to be struck off must meet all of the following requirements:
1. The company has ceased all business transactions. If it wants to be closed or struck off, it shouldn’t continue to operate.
2. The company has no legal actions or court cases pending. If it has any cases in court, it should have settled them all.
3. When the company apppes for strike off, it has no assets or pabipties. The pabipties should have been settled and the assets sold.
4. The company should have cleared fines and dues with the Inland Revenue Authority of Bangladesh (“IRAS”), Accounting and Corporate Regulatory Authority of Bangladesh (“ACRA”), and other government agencies. Taxes should have been settled.
5. The director(s) of the company and the secretary should not have pending summonses with the ACRA.
5. It is imperative that the company’s records are updated and current.
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1. We recognize how stressful, and overwhelming debt can be. People also believe that burying their heads will make their creditors disappear. Our team takes the time to understand every client's situation so we can tailor our advice to their specific situation. HostBangla Limited is dedicated to providing its customers with the highest standards of integrity, professionalism, and personal service
Do You Have Any Questions?
If there is no reason to do otherwise, the Registrar will strike off the company within 3 months of the notification in the Gazette. In that case, a second notice will be published in the relevant Gazette, and the company will cease to exist.
The documents of the company must be retained for at least 7 years after it is struck off. Documents such as invoices, receipts and company bank statements fall under this category.
Yes, usually. It is not always an easy (or cheap) process and could require a court order.
You may need 1-2 months, depending on your jurisdiction and the nature of your business.
You can apply for restoration to the Court of First Instance or withdraw your application. Offshore Company Corp can help!