Strike off definitions
| Word backwards | ekirts ffo |
|---|---|
| Part of speech | "Strike off" is a phrasal verb. |
| Syllabic division | strike off = strike off |
| Plural | The plural of the word strike off is "strike offs." |
| Total letters | 9 |
| Vogais (3) | i,e,o |
| Consonants (5) | s,t,r,k,f |
When a company is no longer operating or is unable to meet its financial obligations, it may go through a process called strike off. This process involves removing the company from the official register, essentially dissolving it and ceasing all activities.
Strike off typically occurs when a company fails to file its annual accounts or annual return with the appropriate authorities. It can also happen when the company is no longer carrying on any business activities or if it is found to be involved in fraudulent activities.
Procedure for Strike Off
The procedure for strike off varies depending on the jurisdiction, but it generally involves notifying the relevant government authority of the company's intention to be struck off. This may require submitting certain documents and paying any outstanding fees.
Effects of Strike Off
Once a company has been strike off, it ceases to exist as a legal entity. Its assets may be liquidated to pay off any outstanding debts, and any remaining funds may be distributed among the company's shareholders. The company's name is also removed from the official register.
It is important to note that strike off is different from dissolution, which is a more formal process that involves court approval. However, both ultimately result in the company being removed from the register and no longer being able to operate.
Reinstatement
If a company wishes to continue its operations after being strike off, it may be possible to apply for reinstatement. This process involves submitting an application to the relevant authorities, along with any required documents and fees. If approved, the company can resume its activities as if it had never been strike off.
Strike off Examples
- The manager decided to strike off the items that were out of stock from the inventory list.
- The doctor was instructed to strike off any unnecessary tests from the patient's medical report.
- After completing the project, the team will strike off the remaining tasks from the to-do list.
- The supervisor had to strike off the names of employees who did not attend the mandatory training session.
- In order to stay within budget, the committee had to strike off certain expenses from the event plan.
- The teacher asked the students to strike off any incorrect answers on their quiz papers.
- The board of directors voted to strike off the proposed merger due to conflicts of interest.
- The editor decided to strike off a paragraph from the article to improve clarity.
- The judge ordered the prosecutor to strike off the inadmissible evidence from the trial record.
- To avoid confusion, the team lead suggested to strike off redundant information from the presentation slides.