Procedure and timelines for striking off a defunct private limited company under the Companies Act 2017?

For a dormant.. SMC (Pvt.) Ltd. that has had no business since 2022, the company can generally seek striking off under Section 426 of the Companies Act, 2017, through SECP's Easy Exit procedure, provided it has genuinely ceased operations and has no known assets, liabilities, pending litigation, or regulatory issues. The company normally submits the prescribed Easy Exit forms, including the application, members' resolution, declaration/indemnity, and auditor's certificate, along with the applicable SECP fee. The Registrar then scrutinizes the application and, if satisfied, proceeds with striking off. There is no guaranteed fixed timeline; straightforward cases are generally quicker, while outstanding compliance issues or objections can cause delay. As to the directors, striking off does not automatically extinguish personal liability for fraud, misrepresentation, unlawful conduct, or liabilities personally undertaken by them. A false declaration that the company has no liabilities can also expose the responsible persons to legal consequences. Key provisions: Section 426, Companies Act, 2017 and the Companies (Easy Exit) Regulations, 2014.