Overview

Following the provisions of Section 248 (1) of the Companies Act, 2013, the Registrar of Companies closed several companies in the financial year 2017-18. In its first channel and as a result, again in August 2018 launched its second campaign to attack millions of companies.

Strike off means temporary closure of companies complying with the provisions of the Companies Act, 2013, an option to wind up the company where the company & lsquo; May revive the period of the company; Twenty years & rsquo; From the date of the company's strike.

Who can appeal to Tribunal for revival in case ROC struck off the Company?

• Any person can file an appeal within three years from the date of the order of the registrar, who agrees with the order of the registrar.
• The claim that the company name has been removed from the register of companies depends on incorrect information submitted by the company or inadvertently. In addition, its directors can file an appeal within three years.
• Date of 'publication of notice' of the strike in the official gazette by the company, or creditor or any member or any member or working person of the company, removed his name from the register of the company (ROC) May appeal from within &lsquo. ; 20 years ’

At this point, it is important to state that in case of a mandatory strike by the ROC, an appeal has to be filed within three years of the date of the order of the ROC. In the case of voluntary striking, the period of limitation is twenty years. It is on the condition that the application be made before the expiry of twenty years w.r.t. It is stripping the company name from the date of publication in the official gazette of the notice.

Why should Struck Off Company opt for immediate reinstatement?

There are many benefits that the company will enjoy reviving when it gets stuck. They are as follows: -

• To recover their overdue sum with interest, creditors of such Companies may start an action.
• The company can be enforced for discharging the company's liabilities/ obligations, and the Liability of every director & officer shall continue.
• If a company has not filed annual returns or financial statements for any continuous period of three financial years, it may disqualify the directors of such companies.
• The Registrar may also recommend prosecuting individuals responsible for not filing documents and returns.
• Further, after five years from the date on which the said company fails to do so, this disqualification will result in disqualification or reappointment to another company.
• On holding the post of director, wherever mentioned above, the post of director should be vacant in all companies leading to such disqualification.
• Such director must inform the company of his disqualification before being reappointed or appointed, while disqualification is removed (under sub-section (2) of section 164).
• The following benefits can be availed if the Promoter Shareholder opt for the revival of the Company’s name by taking instant action within the accord of this scheme:-

  a. Such a company can now opt for filling of overdue returns and documents only with a nominal fee of "300/- or 400/- or 500/- or 600/-", which has not filed returns for preceding years. The fees will depend as the case may be and can get the thorough waiver of, and additional business fees can commence its actions if so anticipated.

  b. For imposing penalties on accounts of delay associated with specified forms and returns, no proceedings against the "Company and its Officers" shall be initiated if overdue documents must be filed within the overall occupancy of the scheme.

  c. If proceedings or prosecution, initiated shall be withdrawn if the scheme's necessities will be obeyed in time.

overall process

What is the procedure to appeal to the National Company Law Tribunal (NCLT)?

Legal application for revival of the company

• Appeal to National Company Law Tribunal (NCLT) under Section 252
• Appeal by Anyone – Within three years under Section 252(1)
• Appeal by Company/ Members/ Creditors/ Workman under Section 252(3) – Within 20 years

Planning and Provision of Petition

An appeal or Application must be made in the format of NCLT-9 along with a demand draft of "Rs. 1000" in favor of "Pay and Accounts Officer, Ministry of Corporate Affairs (MCA)." Link:- https://nclt.gov.in/content/national-company-law-tribunal-benches The petition under Section 252(3) shall be filed with the Tribunal (NCLT) for the revival of the name of struck Company.

Presentation of revival petition with ROC

Not less than fourteen days before the date fixed for the hearing of the application, a copy of the petition must be given to the Registrar of Companies. It can also act on such other persons as the Tribunal may allow.

Trails and Hearing by

Tribunal (NCLT)

During the trial and hearing, the tribunal will hear the petitioner and the defendant (ROC-Registrar of Companies). If any, it will also take note of the comments / objections received during the proposed dates of hearing. It can order the revival of the company's name in the records of the ROC after hearing both sides if satisfied.

Tribunal Instructions

The order shall direct the following where the tribunal orders the reinstatement of a company name in the register of a company. Those orders are as follows: -

• Within 30 days of the latest, the applicant should give a certified copy of the order to the ROC.
• After obtaining all the certified copies, the ROC will name and seal the required consideration and publish the final order in the official Gazette websites.
• The applicant must pay the costs of the appeal or application, and the ROC on any other occasion, until and unless the tribunal directs.
• The company should comply with the requirements of the Companies Act, 2013, and file annual returns and financial statements pending with the registrar. They should follow all the rules made within such time, which can be focused and directed by the tribunal.

Obeying RoC commands for filing

Within thirty days from the date of the order, the company should file a copy of the order in 'INC-28' with the Registrar of Companies (ROC).

In the Gazette: Order Publication

After receiving all the certified copies, the ROC in their office will name and seal the required consideration and publish the order in the official gazette.

Completion of pending filing documents with ROC

The company should comply with the requirements of the Companies Act, 2013, and file annual returns and financial statements pending with the registrar. They should follow all rules made within that time, which can be focused and directed by the tribunal.

Required documents

An application to restore the company name will be filed, indicating that the company was indeed in operation (recommended) with the following attachments. They are as follows: -

• Up-to-date bank statements
• Quickly Receivable Signed Balance Sheet.
• AGM Minutes / Board Minutes CTC
• Copy of payment related to ITR / TDS / Gratuity / PF by the company.
• Copy of latest sales bill / invoice
• The company can give any other government document as proof that it will materialize by date.
• As of NCLT 6, an affidavit is required to confirm the petition
• Order passed by RoC for striking
• Certificate of Incorporation
• Memorandum of Association and AOA
• A copy of the audited financial statements will be required from the fiscal year when it has not been filed with the ROC
• Memorandum of Attendance
• Any other document conditional depending on circumstances and case.

Servzone process for revival

Strobe of companies will be revived with careful consideration. Plenty of time should be allowed for all stages of the appellation and trails. It is advised that a lawyer with significant 'corporate law experience' should be appointed to overcome the many potential pitfalls that creep around within the revival of the Streak of Companies petition.

Servzone advises you to get in touch with a consultant / lawyer to understand the requirement in detail. Initial information will be mandatory from your end to start the process. After providing all the information, the lawyers will start working on your revival of the strike of the company and payment will be received. In addition, you will receive the first draft of your petition within a few business days. You can evaluate the document, and intimate it for improvement in case of any amendment.

Why Servzone?

Servzone is one of the platforms that coordinates to meet all your legal requirements and continuously connects you with professionals. Yes, our clients are pleased with our legal service! Due to our focus on simplifying legal requirements, they have consistently treated us highly and provide regular updates.

Our clients can track progress on our platform at all times. If you have any questions about the strike off companies revival petition and the filing process, our experienced legal advisors are just a phone call away. servzone will ensure that your communication with professionals is engaging and seamless.

Grounds for revival

The grounds on which NCLT revives the companies are: -

• If the company has any assets which are immovable.
• Apart from ROC, if the company has complied with GST, Income Tax, Provident Fund and other such authorities.
• In case there are evidencing the Company to be an on-going one of active transactions in the bank statements of the Company’s account.
• If the company is choosing to renew any license like FSSAI license, excise duty etc. on an annual basis, which is mandatory to be taken. Any other documents incidental to the circumstances. It varies from case to case.
• The primary watchword of the logic that needs to be established that there should be some document screening that the Company is an on-going one, and it is in the ‘public interest’ to revive the Company.

What are the grounds on which ROCs can strike companies?

• Companies have failed to perform business functions within one year of certification of incorporation.
• Companies that are not acquiring any business or operations for the next two financial years. (This means non-filing of e-Form AOC-4 and MGT-7 before two financial years) / />
• It also depends on whether the Memorandum of Subscriber of a company has not paid the subscription money. A declaration has not been filed within 180 days of this result (e-Form 20A).
• If it is revealed by physical verification of its registered office, that the company is not doing any business.

However, fundamentally, ROC has hit the names of companies only due to non-filing of MGT-7 E-Forms and AOC-4s only before two financial years.

Assets and liabilities after the strike off

The obligation of every single director, manager or other officer, who was acting with any power of management, and every member of the company counted under sub-section (5), should continue and strike. needed. Should also be implemented after. .

The company will be concerned for a number of reasons, and one of the reasons that can be considered as to which name the ROC has struck is that the company's cash remaining assets, rights and other current or non-current assets are agreed. has gone. goes. With whom? In the absence of any special provision in the Companies Act, 2013, it is a highly debated issue regarding the status of assets after the strike.

Latest: Companies from Revise Companies Strike Start Scheme, 2020 (CFSS-2020)

Following the rule under Section 248 (1) (c) to curb the operations of Shell and increase transparency of companies, the Registrar of Companies attacked several companies in 2017, 2018 and 2019. Accordingly, the jurisdiction to date has been carried out by the Registrar of Companies (ROC) in three stages of striking.

Before this date everyone was facing difficulty in reviving their companies and detailed penalties involved in filing annual returns of the company. However, additional fees have been waived by the government on filing annual returns amid the widespread spread of the novel corona virus since the introduction of the company's Fresh Start Scheme, 2020 (CFSS-2020)

.

Therefore, many people have started considering the attainment of reviving their companies again. (Under Section 252 of the Companies Act, 2013, read along with Rule 87A of the National Company Law Tribunal (Amendment) Rules, 2017. The Company offers the Fresh Start Scheme (CFSS-2020) without adding any additional or heavy fines or fees to you. . A golden opportunity to revive the company.