Highlights of Companies (Removal of Companies Names from Registrar) Amendment Rules, 2019.
Procedure for removing the name of the company from the Register of Companies maintained by Registrar concerned has been simplified through the Companies Act, 2013 (CA, 2013’) and amended from time to time. Also, some specified companies are not eligible for voluntary strike-off like vanished companies, delisted companies and so on.
Section 248 of Companies Act, 2013 elucidate provisions with regard to the strike off of the company Read with Companies (Removal of Names of Companies from Registrar) Rules, 2016. Vide Notification dated 8th May 2019 the MCA has clarified some procedural aspects through Companies (Removal of Names of Companies from Registrar) Amendment Rules, 2019.
The highlights of notification are as follows:
- For clarification purposes, once the notice under Form STK -7 is issued Suo-moto the application for strike off cannot be made.
- Also, if a company wants to strike off its name, the company first has to file its Annual Return. For example, the company wants to strike off its name in December 2018 then it first has to file Annual Returns that i.e., AOC -4 or AOC- XBRL and MGT- 7 as the case may be.
- To bring clarity the annual filing has to be made in both the cases whether it is voluntary or suo-moto strike off procedure.
- The fee for filing the application under STK -2 has been increased to 10,000 from Rs. 5,000.
- Further, Form STK- 8 has been notified wherein the disclosure about assets and liabilities is to be made up to 30 days before the date of STK- 2. The Form STK-8 is to be filed along with STK- 2.
FAQs on STK- 8
- Form STK- 8 discloses assets and liabilities up to 30 days before the date of STK- 2.
- The Form STK-8 is to be filed along with STK- 2.
- The Certification of Form STK- 8 by Practicing Chartered Accountant/ Company Secretary is mandatory.
- It will be processed by the department, not an STP Form.
Hence, the company shall make sure that it has complied and filed all overdue returns more specifically Annual Returns to avoid any issues in the future.
Facing issues in filing Annual Returns?
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