Before learning the procedure of how to revive a company, let us first understand the reason of removal of company’s names being removed from the Registrar of Companies (ROC).
Reason for Removal of Name from ROC
Section 248 of the Companies Act, 2013 denotes the Power of Registrar to remove the name of company from register of companies. This Section describes in what all cases a company’s name can be removed from ROC. The cases where name can be removed from Registrar of Companies are:
Where the Registrar has reasonable cause to believe that-
- a company has failed to commence its business within one year of its incorporation
- a company is not carrying on business or operation for a period of two immediately preceding financial year and has not made any application in the year for obtaining the status of dormant company.
- the subscriber to the memorandum have not paid the subscription which they had undertaken to pay at the time of incorporation of a company and a declaration for the same has not been filed within 180 days of its incorporation
- the company is not carrying on its business or operations, as revealed after the physical verification carried out by the ROC
The above mentioned clause state the cases where ROC has the authority to remove the name of a company on sue-moto basis
Another case is when the company voluntarily wishes to close its company.
As per Section 248(2) of the Companies Act, a company can apply for strike off a company on any of the grounds mentioned above in Form STK-2. The Form is to be filed along with the fee of Rs. 10,000 and accompanied with a no objection certificate from the Regulatory Authority. Also, indemnity bond notarized by every director in Form STK-3 shall be attached with the application in Form STK-2.
The manner for filing of application is stated well in advance by ROC i.e. the Registrar of Companies
The manner declared by ROC states:
- to get the application (Form STK-2) signed by a director duly authorized by the Board;
- where the registered DSC i.e. the Digital Signature Certificate is not available, a physical copy of the form must be signed manually by the director
And the Form STK-2 will be certified by the Chartered Accountant in whole time practice or Company Secretary I whole time practice or Cost Accountant in whole time practice as the case may be.
A Company can be revived by making an appeal in NCLT to restore the company. The appeal can be made by any of the given below persons:
Documents required for revival of Struck Off Company
- Certificate of Incorporation
- Article of Association
- Memorandum of Association
- Copy of Bank Account Statement
- Copy of Audited Financial Statement since the incorporation
- Copy of Income tax Return
- Copy of Notice of strike off companies
- Copy of Public Notice of the strike off company
Procedure to revive a Company
- Connect with us, the popular professional consultancy firm
Drop us your query and a professional individual will be there to assist you. We commit to help you in every possible manner and give the best of quality services.
- Submitting and verification of Documents
Send us your documents through WhatsApp or Email and our expert will verify all the documents and will begin with the further process for revival of company.
- Application of revival of struck off company
After verification and complete documents are received, our expert assigned to you will be there for preparing the petition that will be submitted to ROC. Also, the expert assigned shall attend the hearing in the court on your behalf. As it is a bit complicated procedure, it will take 3-4 hearings and few days for the revival of company to take place.
- Hearing of application by NCLT
The Tribunal will go through the application and if satisfied with the reasons made, the NCLT (National Company Law Tribunal) may pass an order for revival of the company. After the NCLT approves the order, it will be received by us.
- Grant of Revival of Company by ROC
After we have received the order from the Registrar, a certified copy will be prepared by us and shall be sent to ROC within the time period of 30 days from the date of order passed in Form INC-28.
So, that’s how revival of a stuck off company takes place!.
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