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Companies (Removal of Names of Companies from the Register of Companies) Rules / C-PACE

Fast-Track Striking Off under Section 248 (Form STK-2): C-PACE Centralized Processing & Liquidation Protocols

Published: January 16, 20255 min readEffective: Active Centralized Processing via C-PACE

View Official Gazette / Govt Source Consult Senior Partner

Executive Regulatory Summary

Closing down an unviable or defunct private limited company has been accelerated through the Centre for Processing Accelerated Corporate Exit (C-PACE). Step-by-step breakdown of filing Form STK-2, statutory indemnity bonds (STK-3), affidavits (STK-4), statement of zero assets/liabilities certified by a CA, and clean closure.

Key Statutory Takeaways

Applicable where a company has failed to commence business within 1 year of incorporation or has not carried on business for 2 immediate financial years.
Processed centrally by C-PACE within an expedited 30 to 60-day turnaround without territorial ROC delay.
Mandatory closure of all company bank accounts and cancellation of GST/EPFO/ESIC registrations prior to application.
Statement of Accounts in Form STK-8 certified by a Chartered Accountant must not be older than 30 days.

Actionable Compliance Checklist for Businesses

Step-by-step advisory measures prescribed by ASGR and CO for immediate adherence:

1Convene Extraordinary General Meeting (EGM) and pass special resolution with consent of 75% shareholders.

2Discharge all outstanding creditor liabilities and close all operational corporate bank accounts.

3Obtain statement of accounts in Form STK-8 from a Practicing Chartered Accountant.

4Submit Form STK-2 on MCA V3 with Indemnity Bonds and Affidavits executed by all directors.

1. Why Voluntary Strike Off Is Superior to Dormancy

Maintaining a defunct company incurs recurring costs for annual filings, auditor appointments, and director KYC. A clean Form STK-2 exit eliminates all perpetual liability for directors permanently.

Target Entities Governed by this Notification:

Promoters of Inactive or Defunct CompaniesCompany Secretaries & LiquidatorsAngel Investors Cleaning Cap TablesCorporate Restructuring Consultants

Advisory Published By

CA Vishal Kanojia

Partner - Audit & Corporate Compliance • B. Com, FCA, Bank Branch Auditor

ASGR and CO, Chartered Accountants (Peer Review Certified: #018Xxx)

Statutory Disclaimer: This publication is compiled by ASGR and CO solely for general informational and educational purposes to assist corporate clients and peers in understanding statutory notifications. It does not constitute legal, tax, or formal secretarial advice. Before acting upon any provisions, specific professional counsel should be sought.

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