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1. What is Form STK-5? 

Form STK-5 is used for striking off or removal of the company’s name. Pursuant to sub-section (I) and sub-section (4) of section 248 of the Companies Act, says that when companies included in the notification have not carried on any business or operation for the two most recent financial years, and have not applied for inactive company status under Section 455 of the Companies Act, 2013, it intends to strike off the names of the aforementioned firms from the Register of Companies and dissolve them within thirty days of the date of this notice, unless a cause is demonstrated to the contrary.

2. Why is it important?

Form STK-5 gives the best and simplest ways for businesses to remove their names from the public record without difficulty by correctly preparing all essential documents in accordance with the law. Under this Companies can easily Strike-off from the registrar of companies that choose to voluntarily terminate their business by filing an application with the ROC under section 248, this will save them from penalties.

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