Company closure or strike off refers to the formal process of dissolving a company that is no longer active or capable of continuing its business operations. This process involves legally removing the company’s existence from the official register maintained by the Registrar of Companies (or relevant authority in different jurisdictions). It is an essential step to ensure proper legal compliance and to prevent future liabilities.

• Initiated by the company’s members or directors when the company has ceased trading, has no assets or liabilities, and no ongoing business activities.
• Usually done through a formal resolution passed by the shareholders or directors.

• Initiated by the Registrar of Companies (or equivalent authority) due to non-compliance, such as failure to file annual returns or financial statements.
• This process is often automatic or triggered after notices and warnings.

Company closure or strike off is a strategic process used to formally dissolve a company that is no longer active or necessary. It ensures compliance with legal requirements and provides a clean exit for the business owners. Proper planning and adherence to statutory procedures are essential to avoid penalties or legal complications.