Section 248(2)

A company may on its own file an application in form STK-2 in e-form-FTE to the Registrar for removing the name of the Company after extinguishing all its liabilities and after passing a special resolution. Form-FTE is required to be signed by Director, it must be certified by Practicing CS/CA/CWA and fee for filing form FTE is Rs. 5,000/-.

2) 

1. After receiving an application, ROC shall publish a public notice STK-6 to seek objection from public on proposed strike off;
2. The notice shall be placed on the website of Ministry of Corporate Affairs, published in the Official Gazette and published in a leading English newspaper and at least in one vernacular newspaper where the registered office of the company is situated.
3. ROC shall simultaneously intimate the concerned regulatory authorities regulating the company, i.e. the CBDT and CBEC having jurisdiction over the company, about the proposed action of removal or striking off the names of such companies and seek objections if any.
4. After complying all the process, ROC shall strike off the name and dissolve the company by sending notice in the official gazette in form STK-7.

You can cancel the registration of that company through fast tract exit (FTE) by application to registrar or declare a dormant status for maximum of 5 years

Ok

Removal of company’s name from the register of companies on suo-moto basis is possible where the Registrar has reason to believe that—

(a) the company has failed in commencing its business within the first year of its incorporation; or

(b) the company isn’t carrying on any operation or business for a period of 2 immediately preceding FY (financial years) and has applied within that period for acquiring the dormant company status under section 455,

The registrar shall send a notice to the company and all the directors of the company, of his intention to remove the name of the company from the register of companies and requesting them to send their representations along with copies of the relevant documents, if any, within a period of thirty days from the date of the notice.”

The Registrar may remove the company’s name from the companies register in terms of the Act of Section 248.

Application for the removal of Company’s name

An application for the removal of company’s name under sub-section

Section 248 should be made in the Form STK-2 together with the fee of INR 5000. Every application under the sub-rule should accompany a no-objection certificate from the appropriate Regulatory Authority related to the following companies, namely:

1. Organizations that have to conduct or conducted investment and non-banking financial activities as given in the Act of Reserve Bank of India, 1935 or Rules & regulations thereunder
2. Insurance companies as given in the insurance act, 1938 or rules & regulations thereunder
3. Housing finance organizations as given in the Housing Finance companies directions 2010 stated in the act of national housing bank, 1987
4. Companies in the operation of capital market intermediaries as given in the Securities & exchange board of India Act, 1992
5. Asset management companies as given in the Securities & Exchange Board of India Act, 1992
6. Any other company that seems to be regulated under any laws for the time in operation

AOC 4 ie mandatory. No matter whether company have bank account or not. File by paying late fees otherwise penalty will impose.

Close the company by strike off.

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Grounds of strike Off of a Company under Companies Act 2013:

• 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 provisions of Companies Act, 2013 there are two modes of strike off as mentioned below:

• Strike off by ROC under Section 248(1) of the Companies Act 2013
• Strike off by Company by its own under Section 248(2) of the Companies Act 2013.

 Strike off by Company by its own under Section 248(2) of the Companies Act 2013

The company can file an application in E-form STK-2 with Registrar of Companies suo-motto after extinguishing all its liabilities, by special resolution or with the consent of seventy five percent of the members in terms of paid up share capital, to the Registrar for removing the name of the Company on all or any of the above mentioned grounds.

• It is necessary to do annual filing before making an application for strike off. But there are many cases where ROC approves such form without annual filing if ROC  found that no transaction is there and no bank account is under operation till date, then in such case company can make application for strike off.
• The Company will place the copy of application on its website till the disposal of the application

A “vanishing company” means a company, registered under the Act or previous company law or any other law for the time being in force and listed with Stock Exchange which has failed to file its returns with the Registrar of Companies and Stock Exchange for a consecutive period of two years, and is not maintaining its registered office at the address notified with the Registrar of Companies or Stock Exchange and none of its directors are traceable.

The company can file an application in E-form STK-2 with Registrar of Companies suo-motto after extinguishing all its liabilities, by special resolution or with the consent of seventy five percent of the members in terms of paid up share capital, to the Registrar for removing the name of the Company.

If you want to close the company then Section 560, of the Companies Act, 1956, deals with strike off provisions of a defunct company. Any defunct company desirous to strike off its name from the register of Registrar of company can apply in Form FTE for strike off its name from the register maintained by ROC as per Guidelines for ‘FAST TRACK EXIT MODE’ issued vide General Circular No. 36/2011 dated 7.6.2011.

Similarly, ROC has also power to strike off any defunct company after satisfying himself of the need to strike off a defunct company and has reasonable cause. But before passing any order in this regard, an opportunity of being heard must be provided to the defunct company by following the due procedure u/s 560

If you need More assistance Consult and engage a local prudent lawyer for better appreciation of facts, analyse, guidance and proceeding professsionally.

Strike Off of Company

The process of striking off is an alternative mechanism to the winding up of a company. The Companies Act facilitates two modes of strike-off – namely, strike off by the ROC (Registrar of Companies) under Section 248(1) of the Companies Act 2013, and strike off by a company on its own accord under Section 248(2) of the Companies Act, 2013. This article dwells into the concept of strike off of Company with respect to both of these provisions.

Grounds for Strike off

The provision of strike-off could be enacted on the basis of the following grounds:

• The company hasn’t commenced its business within one year of its incorporation.
• The company hasn’t been pursuing any business or activity for the preceding two financial years, for which it hasn’t sought the status of Dormant Company under Section 455 of the Act.

Dormant Company

The word dormant, in general terms, means inactive or inoperative. Similarly, a company is classified as dormant if it has been registered under the Companies Act for a future project or to hold an asset or intellectual property but isn’t pursuing any significant accounting transactions. To gain the classification though (which has its own benefits), the Company must file an application to the Registrar. The concept of dormancy was introduced to the corporate provisions in the Companies Act of 2013.

Strike Off by ROC

The Registrar of Companies may issue a notice to the Companies and its Directors in Form STK-1 (Removal of Names of Companies from the Registrar of Companies) if he/she holds a reasonable cause as specified above. Such a notice would inform the respective companies of the removal of its name from the record and request it to send its representatives with the requisite documents within thirty days of the issue of such notice. This process is also referred to as Compulsory removal of name from the Registrar of Companies.