OPC Closure (Strike-Off)
- ✔ Formally ends the legal existence of the entity, releasing the sole member from all future statutory obligations.
- ✔ Removes the recurring expenses of annual audits, mandatory filings, and professional compliance fees.
- ✔ Halts the accumulation of heavy daily fines (₹100/day) for non-filing, which can otherwise grow indefinitely.
- ✔ Prevents the sole director from being disqualified under Section 164 of the Companies Act, ensuring they remain eligible for other ventures.
- ✔ Provides a much faster and less expensive route via STK-2 compared to the traditional, court-driven winding-up process.
- ✔ Enables the formal surrender of GST, PAN, and TAN, ensuring no future tax notices are served to the member.
- ✔ Ensures that all liabilities are officially settled, providing a clear "Zero Debt" certificate for the individual promoter.
- ✔ Closing a business through the proper legal channel maintains the promoter's reputation with banks and regulators.
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