A Section 8 company, as defined under the Companies Act, 2013, is a non-profit organization established to promote charitable, social, educational, or similar activities. While these entities are created with noble intentions, there may come a time when a Section 8 company needs to be dissolved or struck off the register.

At BYC Advisors, we provide expert assistance in the strike-off process of Section 8 companies, ensuring that the dissolution is handled smoothly and in full compliance with legal requirements.

Understanding the Strike Off Process

The process of striking off a Section 8 company involves several key steps:

1. Board Resolution and Compliance: The decision to strike off the company must be approved by the Board of Directors. We help ensure that all necessary resolutions and compliance checks are completed before initiating the strike-off process.

2. Filing of Application: An application for strike-off needs to be filed with the Registrar of Companies (ROC). We manage this filing process, ensuring that all required forms and documentation are accurately prepared and submitted.

3. Settlement of Liabilities: Before proceeding with the strike-off, the company must settle all its liabilities and ensure that no pending dues or obligations are left. We assist in the settlement process to ensure that all financial and legal obligations are met.

4. Publication of Notice: A notice of the proposed strike-off must be published in the official gazette. We handle this requirement and ensure that the notice is appropriately published as per regulatory guidelines.

5. Final Approval: Once the application is reviewed and approved by the ROC, the company will be officially struck off the register. We provide you with the final confirmation and necessary documentation.

Why Choose BYC Advisors for Your Strike Off Process?

• Expert Guidance: Our team has extensive experience in handling the strike-off process for Section 8 companies, ensuring that every step is executed with precision.

• Regulatory Compliance: We ensure that all legal and regulatory requirements are met, reducing the risk of complications and delays.

• Efficiency: Our streamlined approach minimizes disruption to your operations and facilitates a smooth dissolution process.

• Comprehensive Support: From initial consultations to final documentation, we provide end-to-end support throughout the strike-off process.

When to Consider Strike Off

Striking off a Section 8 company may be considered in scenarios such as:

• Completion of Objectives: When the organization has achieved its objectives and is no longer active.

• Financial Constraints: If the company is unable to sustain its financial obligations or operational costs.

• Voluntary Closure: When the stakeholders decide to voluntarily dissolve the organization due to various reasons.