Reviving Struck Off Companies: A Comprehensive Overview

Strike off means temporary closure of the company or removal of the name of the company from the register of company by the register following the previsions of the Companies Act, 2013. It is a substitute for winding up of the company, and in this case, the company can get revived for a period of 20 years from the date of strike-off. The appeal or application can be filed by the registrar, any person aggrieved by order of the Registrar or by Company, or by member or creditor or workman. The member, creditor or workman of a company can file a petition for Revival of the Company before the expiry of 20 years of striking off from notification in the official gazette under section 252(1), and others can file a petition under section 252(3) within three years from the publication of notification in the official gazette. The demand draft of Rs. 1000/- should be filed with the petition as fees. It is important that the appeal has to be filed within three years of the date of order of the register of company in case of compulsory striking off by the registrar and the limitation period is twenty years with respect to striking off the company’s name from the date of publication of notice in the Official Gazette. Who can apply for Revival? Following are the persons who can make an appeal in NCLT to restore the company: Company; Any member/ creditor; Workmen. The revival of struck off companies typically involves several steps: 1. Application for Company Restoration: /File an application for company restoration with the appropriate governing body or registrar, providing reasons for revival and paying any outstanding fees or penalties. 2. Court Order (if required): /In some cases, especially if the company was dissolved for a long time or voluntarily struck off, a court order might be necessary for revival. 3. Clearance of Debts and Obligations: /Clear any outstanding debts, taxes, or obligations the company had before dissolution. This might involve settling with creditors or addressing legal requirements. 4. Updated Company Information: /Ensure all company information, such as director details, shareholding structure, and registered. Strike off of Companies under Companies Act, 2013 If you’re Company has been struck off from the Register of Companies on account of Non filing of financial statements and Annual Returns for a Continuous Period of 3 Years. You can now restore your Company by filing a petition in jurisdictional Bench of National Company Law Tribunal (NCLT).