Author: CS Tanvi Shah
Published in: Taxmann
The Ministry of Corporate Affairs introduced the Centre for Processing Accelerated Corporate Exit (CPACE) to streamline the strike‑off process for companies. Under the new rules, all strike‑off applications must be filed with CPACE, centralising and simplifying procedures nationwide. The earlier requirement for shareholder approval or a special resolution has been removed, reducing procedural delays. CPACE acts as the functional authority to process applications, ensuring faster, transparent, and efficient voluntary exits for companies. This reform benefits businesses seeking timely closure while maintaining compliance, making the corporate exit process smoother and more predictable under the amended regulations.
