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Revival of Struck Off Companies

If the company fails to start its business within a year of incorporation or fails to send annual returns, the registrar may place the company's name in Strike Off on its own. <br>Strike Off means deleting from the Registry of Companies held by the Registrar of Companies the name of the company. <br>

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Revival of Struck Off Companies

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  1. Revival of Struck Off Companies

  2. If the company fails to start its business within a year of incorporation or fails to send annual returns, the registrar may place the company's name in Strike Off on its own. • Strike Off means deleting from the Registry of Companies held by the Registrar of Companies the name of the company. • It is more of a business termination and after being Struck Off, the company won't be in existence and can't do any activity afterwards. • There is, however, a distinction between Striking Off and Winding Off Company, while Striking Off means temporary closure that allows a company to revive itself in the future, winding off means a company's permanent closure.

  3. Following are the persons who can make an appeal in NCLT to restore the company: • Company • Any member/ Creditor • Workmen Who can Apply for Revival?

  4. If the company has any land that is immovable. • Other than ROC, if the organization has all complied with GST, Income Tax, Provident Fund, and other bodies. • In the event that the Company is proven to be a continuing one of the successful transactions in the account of the Company's bank statements. What are the reasons for the revival?

  5. In the event that the organization decides to renew, on an annual basis, any license such as fssai license, excise, etc. That is compulsory to be taken. Any other records that are based on the conditionsThe primary reasoning watchword that needs to be developed is that there should be some document screening that the business is an ongoing one, and reviving the company is in the 'public interest.'

  6. Up-to-date announcements from banks • Signed balance sheets Easily Obtainable. • AGM Minutes/CTC of Minutes of the Board • Copy of the company's acknowledgments paid in relation to ITR/ TDS/ Gratuity/ PF. • Copy of recent bills/invoices for sales Documents to be sent along with attachments indicating that the company was actually in service

  7. What is the Procedure to be followed for revival? Register and/or other facts, as fairly open to the petitioner(s), in support of A statement made in the application or appeal or petition.Where the petition is lodged on behalf of the members (shareholders), the letter of consent, where appropriate, shall be issued by them.Affidavit for verification of the petition; proof of the fee payment of rs. 1,000/-

  8. The Company shall file a copy of the order with the ROC on Form INC-28 within 30 days of the date of the order, and all pending annual returns and financial statements shall be filed with the ROC in accordance with the NCLTT order. • In addition, it is important to note that the jurisdiction bench of the National Company Law Tribunal practically levies a penalty on behalf of the National Relief Fund of the Prime Minister as costs in accordance with sub-rule 4(c) of Rule 87A of the National Company Law Tribunal (Amendment) Rules, 2017 starting from a minimum amount of Rs. 25,000/- according to the Hon'ble Judge's discretion.

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