Section 8 Company Strike Off in India is governed by the Companies Act, 2013. It involves the legal process of removing a non-profit company from the Register of Companies when it ceases operations or becomes defunct.
Why Consider Section 8 Company Strike Off in Nashik?
Strike off is beneficial when a Section 8 company is no longer operational, has fulfilled its objectives, faces financial difficulties, or wants to avoid ongoing compliance requirements and annual filing obligations. It provides a legal closure to the entity's affairs.
Eligibility Criteria for Section 8 Company Strike Off
- No business operations for the past one year
- No pending litigations or legal proceedings
- No outstanding loans or liabilities
- No pending statutory dues or taxes
- Assets properly disposed of or transferred
- Board resolution approving the strike off
- Consent from majority of directors/members
Section 8 Company Strike Off Fees in Nashik
The government fees for striking off a Section 8 company typically ranges from Rs. 5,000 to Rs. 10,000. Professional fees may range from Rs. 15,000 to Rs. 25,000 depending on the complexity and documentation requirements.
Documents Required for Section 8 Company Strike Off
- Board Resolution for Strike Off
- Indemnity Bond by Directors (on stamp paper)
- Statement of Assets and Liabilities
- No Objection Certificate from Income Tax Department
- No Dues Certificate from GST Department
- Audited Financial Statements for last 2 years
- Special Resolution for Strike Off
- Affidavit by Directors confirming no pending liabilities
- Copy of Public Notice published in newspapers
Process for Section 8 Company Strike Off in Nashik
The Section 8 Company Strike Off process involves these key steps:
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1
Board Meeting to Approve Strike Off
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2
Clear All Liabilities and Settle Accounts
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3
Obtain NOCs from Tax Authorities
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4
File Form STK-2 with ROC
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5
Public Notice and Objection Period
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6
Final Approval and Strike Off
Special Considerations for Section 8 Companies
- Asset Transfer: Assets must be transferred to another Section 8 company with similar objectives
- Regulatory Approval: Special approval from the Ministry of Corporate Affairs may be required
- Donor Notification: All donors and stakeholders must be informed
- Charitable Purpose Continuation: Ensure charitable purposes are continued through other means
- Tax Implications: Handle tax exemption status closure properly
- Beneficiary Communication: Inform all beneficiaries about the closure
- Documentation: Maintain records for at least 8 years after closure
Conclusion
Section 8 Company Strike Off in Nashik provides a legal and systematic way to close down non-profit organizations that have completed their purpose or are no longer viable. With proper professional guidance, the process can be completed efficiently while ensuring all legal requirements are met and the charitable intent is preserved through proper asset transfer to similar organizations.
