PROCEDURE FOR STRIKING OFF A COMPANY

Corporate Laws and Indirect Taxation Laws Practitioner.

 

The striking off a company may be effected by following two ways:

  1. Striking-off by Registrar of his own motion

Where the Registrar has reasonable cause to believe that a company is not carrying on business or in operation, he shall send to the company by post a letter inquiring whether the company is carrying on business or in operation. Then follow the procedure to strike off the name of company from its register and publish notice in official gazette.

  1. Striking-off on company’s application

The Registrar can exercise the power conferred on him by Section 560, when an application is received by him from him from the company for striking it off on the ground that it is a defunct company, i.e. it is not carrying on business or in operation. On following procedure, the Registrar may strike its name off the register, and shall publish notice thereof in the Official Gazette.

 
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Advocate

But Sir, I would like to point out one thing here that sec 560 does not give any legal right to any company to force the registrar to have the company struck off. teh section gives powers to the registrar that if he has valid reasons to believe, then after following the procedure, he may strike off company's name from the register. Yet some notification was issued by the departmet so that striking off the names of defunct companies may be done after having application by the companes in this regard but at the present time no such notification is in force..

yet it is a duty of the registrar to strike off names of defunct companies. 


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Corporate Laws and Indirect Taxation Laws Practitioner.

Thanks.....

 
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The Fast Track Exit Scheme allows non-defunct companies an easy exit by having their names struck off the Register of Companies. The Easy Exit Scheme was introduced by the Ministry of Corporate Affairs (MCA) to allow defunct companies an easy exit by having their name struck off the Register of Companies, where they have been inoperative since incorporation or commenced business and subsequently became inoperative. However, there are many other companies registered under the Companies Act 1956 which commenced operation and then became inoperative, have been inoperative since incorporation or were initially operative but later became defunct. To allow such companies to benefit from such a scheme, the ministry introduced its new guidelines under the fast-track scheme. These guidelines were implemented on July 3 2011.

 

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