TL;DR for CAs
- Strike off is for defunct companies with limited assets/liabilities.
- Winding up suits complex creditor/asset situations.
- Tax and GST closure must be sequenced carefully.
What it is
Closure of a company can follow Fast Track Exit/strike off under Section 248 or formal winding up processes.
Who it applies to
Inactive companies, group restructuring, and promoters exiting entities.
Key provisions
- STK forms and indemnity
- Restrictions on strike off
- Insolvency/winding up routes
Practical tips for CAs
Clear bank balances, file overdue returns, and close GST/TAN first.
Common mistakes
Applying for strike off with pending liabilities; ignoring director disqualification risks.
For general guidance only. Verify with the latest Finance Act, GST notifications, and ICAI guidance notes before advising clients.