Strike Out Company Article For Free

Applicability of Section 230 This provision enables the company to restructure its debts by providing the company with a legal framework to make compromises or arrangements with its creditors in order to resolve its financial issues.

---- Date: Reference: In the matter of striking off of companies under section 248 (1) of the Companies Act, 2013, of M/s.

Voluntary Application to Strike Off a Company A company can pass a special resolution or obtain the consent of 75% of members (in terms of the paid-up capital) to file an application to the ROC for removing its name from the Register of Companies.

Section 253 of the Companies Act, 2013 On being satisfied that the company is a sick company and it is in a position to repay its debts, the tribunal shall pass an order to that effect. The tribunal shall give a reasonable time to the company to repay its debts.

Documents required to strike off company An indemnity bond is notified by all directors in form STK-3. A statement that shows all the liabilities and assets of the company and should be certified by a practising-chartered accountant. A copy of a special resolution signed by all the directors and certified.

Section 248 to 252 of the company act, 2013 shows the procedure of striking off the company. If a company applies for strike off voluntarily or compulsorily, they have to notify the public through an official gazette.

Section 248. Power of Registrar to remove name of company from register of companies | Companies Act Integrated Ready Reckoner|Companies Act 2013|CAIRR.

Action by affected persons. A suit may be filed or any other action may be taken under section 34 or section 35 or section 36 by any person, group of persons or any association of persons affected by any misleading statement or the inclusion or omission of any matter in the prospectus .