Striking off the Company
The provisions under Section 248 to 252 of the Companies Act 2013 relating to Strike Off provide an opportunity to the defunct companies to get their names struck off from the records of the Registrar of Companies. The Ministry of Corporate Affairs has issued Companies (Removal of Names of Companies from the Register of Companies) Rules, 2016 to provide the procedural aspect of Strike Off under Act.
Modes of Strike Off under Companies Act 2013
- Strike by ROC under Section 248(1)
- Strike off by Company suo moto under Section 248(2)
Grounds of Strike off under Companies Act 2013
- The ROC may remove the name of a company from ROC on below following grounds:
- A company has failed to commence its business within one year of incorporation;
- The company is not carrying out any business or Activity for preceding 2 financial years and has not sought the status of Dormant Company under Section 455 of the Act
- The Company may by its own by passing special resolution strike off the name of the Company on the grounds mentioned in Section 248(1).
Effect of Strike off
- The company shall cease to operate from the date of Strike off and Certificate of Incorporation shall stand cancelled.
- The liabilities of managers, directors, and officers shall remain same as if the Company had not been struck off.
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