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Revival of Struck off Companies

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Revival of Struck off Companies

Registrar of Companies (ROC) is empowered to strike off a dysfunctional company under Section 248 of the Companies Act, 2013 and NCLT for revival of struck up companies. By the virtue of its power, Ministry of Corporate Affairs had struck off approximately 2 lakh defaulting Companies for non filing of its statutory documents for last 3 years or more in late 2017. In order to give opportunity to companies to revive of their business, a dissolved company can be restored in the Register of Companies (ROC) under Section 252 of the Companies Act, 2013 by an order of the National Company Law Tribunal (NCLT).

Who has authority to strike off name of company from the Register of Companies?

The Registrar of Companies is empowered to strike off the dysfunctional companies or companies who have not filed their statutory documents from last 3 years or more. ROC needs to send notice to companies as mandated by law before initiating strike up procedure.

ROC can strike off which companies?

  • Companies who have failed to commence their business within one year of its incorporation;
  • Companies who have failed to carry on business for last two preceding financial years;
  • Company who have extinguish of all liabilities;
  • Company who have failed to file statutory documents with ROC for last 3 years or more.

Who can file an Application for revival of company?

  • The Company, its member or employees or a creditor can make an application under Section 252 (3) read with Rule 87A of NCLT (Amendment) Rules, 2017 for revival of strike up company.
  • Such application for revival of company need to file within 20 years from the date publication of the notice of the striking-off in official Gazette.

What is the time period under which a strike off appeal can be filed?

  • Any person aggrieved by the order of the Registrar (ROC) to strike-off the name of a Company, can file an appeal before NCLT to revive the company within a period of 3 years from the date of publication of notice of strike up by ROC.
  • If a Company, any member, employee or creditor is aggrieved by the strike off then they can file an appeal within a period of 20 years from the date of publication of striking off notice in the official Gazette by ROC before NCLT to restore company’s name.

How much time it take to revive name of company?

It generally takes 6-8 months to revive the name of company that depends on bench and hearings thereon.

What are the services Lawyerinc offers for Revival of Struck off Company?

Our services:

Our comprehensive range of end-to-end solutions includes following:

  • End to end services for Revival of Struck off Company.
  • We have expertise in getting Revival of Struck off Company.
  • We will get in touch with you through renounced lawyers in this field.
  • Our Experts shall guide you through the procedure and supply you with a detailed checklist of the required documents.
  • We shall verify the documents you provide.
  • We will draft and file a Application for Revival of Struck off Company.
  • We will inform you about day to day hearing in tribunal.
  • Free consultation for any enquiry that you may have about Revival of Struck off Company.
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*Any fee, stamp duty and miscellaneous charges shall be payable extra.

Do contact us in case of any query related Revival of Struck off Company and much more.

To avail any of the above-stated services, kindly establish contact by posting a query at our site.

What are various steps for filing application for revival of struck off company?

Step-1: Application before Tribunal: Filing an application before NCLT under Section 252(3) of the Companies Act, 2013 in Form No. NCLT-9.

Various documents need to be accompanied with appeal:

  • The appeal need to be accompanied with a supporting affidavit verifying application for revival of company in Form No. NCLT 6.
  • Copy of notice or publication issued by ROC
  • Copy of board resolution
  • List of Directors of the Company;
  • Copy of Memorandum of Association and Articles of Association of the Company
  • Latest Audited balance sheet of the company
  • Copy of bank statement showing that company is still in operation
  • Copy of funds or land in the name of company
  • Copy of bank draft evidencing payment of application fee;
  • Memorandum of Appearance or Vakalatnama in the name of authorizing advocate or Company Secretary.
  • Proof of service to ROC and Income tax authority
  • Any other documents supporting application.

Step-2: Service of Appeal / Application: The Applicant need to file 3 copies of application before NCLT. The Applicant will serve copy of application to ROC and Income Tax authority through speed post or registered post or via Dasti not less than 14 days before the date fixed for hearing of the application.

Step-3: Passing of order: Bench (Tribunal) will hear Applicant about the reason of non filing of statutory documents or non-functioning of company. Bench will ask ROC and Income tax authority to file their report. If bench is satisfied with the facts of the case that company is able to run its business and if ROC has not objection to revive the company then bench can order for revival of the company. Bench can impose certain penalty also.

Step-4: Submission of certified copy of order with ROC:

  • The Applicant is required to deliver a certified copy to the said order with Registrar of Companies within thirty days from the date of the said order in INC 28;
  • Applicant is required to pay said penalty amount or cost imposed by Tribunal;
  • Applicant Company is required to file all pending statutory documents such as financial statements and annual returns with ROC as time prescribed by tribunal in the said order.

Step-5: Publication in official Gazette: On receiving of such order, ROC in its official name and under its seal shall publish the order of revival of such company in Official Gazette. This publication will have same effect as if company had not been struck off before.

Step -6: Filing of statutory documents with ROC: Applicant Company is required to file all pending statutory documents such as financial statements and annual returns with ROC as time prescribed by tribunal in the said order.

Frequently Asked Questions

  • 1. Do I need lawyer for filing of application Revival of struck off company?

    Company revival is a legally complex process that requires proper due diligence of company and negotiation of a various documents and filing of petition in court. So in order to minimize the risk it is advised to hire an attorney.

  • 2. How much time it takes to revive company?

    It takes around 6-8 months depends on procedure and hearing in tribunal.

  • 3. Why to get company revival done through lawyerinc?

    Lawyerinc is a complete blend of professionals from across the globe. In –house team of lawyers and attorneys, CA, CS. All professional work together in Lawyerinc, providing you end to end solution. It guarantees delivery in the shortest and most reasonable rate in India. It enjoys a global presence.

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