What does strike off status of a company means?

What does strike off status of a company means?

Strike Off means removing the name of the Company from the Register of Companies maintained by the Registrar of Companies. It is more like a Closure of the Company and the Company will not be in existence after being Struck Off and cannot perform any operation thereafter.

Why would Companies House strike off a company?

In a process known as compulsory strike off, a third party such as Companies House will petition for the company to be removed from the register, typically for reasons of non-compliance. This may include: Failing to submit your annual confirmation statement (Form CS01) Failing to file accounts on time.

How do you stop a proposal to strike off?

There are two key steps to preventing a compulsory strike off from going ahead: Reply to Companies House without delay, clarifying that the company is still active and trading. Also, make sure that they are aware of steps being taken to rectify any failure to submit the confirmation statement and/or annual accounts.

What are the consequences of a company being struck off?

When a strike off is implemented, the company no longer legally exists. It will cease to trade and all its assets, if it has any at the time of dissolution, will be given to the Crown. The process of dissolving a company is only available to companies that are solvent.

How long does a company strike off take?

It takes at least three months for a limited company to be struck off the Companies House register. Once the completed DS01 form has been submitted and assuming all the details are correct, Companies House will send acknowledgement in the post.

How do you revive a company after a strike off?

Any person who is affected by the order of a Company Strike Off, may file an appeal / petition / application for Revival of the Struck Off Company to the NCLT within a period of three years from the date of the order of the registrar and the burden of proof would be on the person applying for the revival and if the …

Can a company be strike off without filing accounts?

It means Company is required to file its annual return for the year, till the company have conducted the business, once the company has stopped its business, IT IS NOT REQUIRED TO FILE ITS ANNUAL PENDING RETURNS before going for strike off of company, and company can proceed for directly strike off WITHOUT FILING OF …

What happens to director of company is struck off?

What Happens to Directors When a Company is Struck Off? Company dissolutions are not always voluntary. If directors do not file their accounts and fail to reply to warnings from Companies House, businesses can be struck off the Companies House register and will cease to exist, even if they are still trading.