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All About Strike Off Company | Microvista Technologies

All About Strike Off Company in India

When it comes to company registration in India, one of the most important aspects is the strike off process. A Strike Off Company is a company that has been removed from the Registrar of Companies (ROC) and is no longer active. This can happen for a variety of reasons, such as the company not filing its annual returns, not maintaining its books and records, or not carrying out any business activity for a period of two consecutive years.

In this article, we will discuss everything you need to know about strike off company in India, including the reasons for strike off, the consequences of a strike off, and the strike off process.

Reasons for Strike Off Company in India

As mentioned earlier, there are several reasons why a company may be struck off from the ROC. One of the most common reasons is the failure to file annual returns. Under the Companies Act, 2013, every company is required to file its annual returns and financial statements with the ROC within a specified period. If a company fails to do so, it can be deemed as a non-compliant company and may be struck off.

Another reason for strike off is the failure to maintain books and records. Every company is required to maintain proper books of accounts and other records, and if it fails to do so, it can be struck off. Additionally, if a company is not carrying out any business activity for a period of two consecutive years, it can also be struck off from the ROC.

Consequences of Strike Off Company in India

If a company is struck off from the ROC, it loses its legal status as a company and is no longer able to carry out any business activity. Additionally, the name of the company is removed from the ROC’s database, and the company’s bank account is also closed. The directors of the company may also be held personally liable for any outstanding liabilities of the company.

Strike Off Process

The strike off process in India is governed by the Companies Act, 2013 and the Rules made thereunder. The process is initiated by the ROC if it has reasonable cause to believe that a company is not carrying out any business activity or is not in compliance with the Companies Act.

Once the strike off process is initiated, the ROC sends a notice to the company at its registered office address. The company is required to file a response within 30 days from the date of the notice, stating the reasons for its non-compliance and the steps it has taken or intends to take to rectify the same.

If the ROC is satisfied with the response, it may decide not to strike off the company. However, if the response is not satisfactory or if no response is received within the stipulated period, the ROC may proceed with the strike off process. The company is then given an opportunity to make representations against the proposed strike off.

If the ROC is satisfied that the company should be struck off, it will issue a final notice to the company stating its intention to strike off the company from the ROC. If no objections are received within 30 days from the date of the notice, the company will be struck off from the ROC and its name will be removed from the database.

Conclusion

In conclusion, the strike off process is an important aspect of company registration in India. It is important for companies to ensure that they comply with the requirements of the Companies Act and maintain proper books and records. Failure to do so can result in the company being struck off from the ROC, which can have serious consequences.

If you are a company owner, it is important to ensure that you are in compliance with the Companies Act and that you file your annual returns and financial statements on time. If you have any questions or concerns about the strike off process, it is recommended that you consult with Microvista Technologies.

About Microvista Technologies Pvt Ltd:

Microvista Technologies’ Strike Off Company Status check service enables you to verify the status of your company quickly and easily. With this service, you can get accurate information about your company’s status, and find the list of strike off companies which will allow you to make informed decisions about your business.

Microvista Technologies is the leading non-government company located in Ahmedabad, Gujarat. Our team of dedicated developers specializes in GST Software, XBRL Software and also provides top-notch solutions.

If you want to check strike off company status contact Microvista Technologies pvt ltd now or visit our website.

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