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Revival of Struck Off Companies

 

Overview

Following the provisions of Section 248(1) of the Companies Act, 2013, the Registrar of Companies in the fiscal year 2017-18 struck off many Companies. In its first channel and consequently, launched its second drive to strike-off lakhs of Companies again in August 2018.
Strike off means temporary closure of Companies following the provisions of the Companies Act, 2013 that is a substitute to winding up of the Company where the Company can get the Company revived for a period of ‘twenty years’ from the date of strike off of the company.

What are the documents that shall be filed with the attachments exhibiting that the Company was actually in operations?
The application to restore the name of the Company shall be filed, exhibiting that the Company was actually in operations (recommendatory) with the following attachments. Those are as follows:-
* Up-to-date bank statements
* Quickly Obtainable signed balance sheets.
* AGM Minutes/CTC of Board Minutes
* Copy of acknowledgments paid concerning ITR/ TDS/ Gratuity/ PF by the Company.
* Copy of latest sales bills/invoices
* The Company may give any other government document as evidence that it will materialize as on date in the form NCLT 6, an Affidavit is required verifying the petition
* The order passed by the ROC for striking off
* Certificate of Incorporation
* Memorandum of Association and AOA
* Copy of audited financial statements will be required from when the fiscal year it has not been filed with the ROC
* Memorandum of Appearance
* Any other documents conditional upon the circumstances and case to case base.

 

Registration Procedure

12AA registration applicant needs to submit the following documents along with Form 10A:
Instrument’s self-certified copy which was used in the process of creating trust or establishing the institution shall be submitted.
The foundation or trust may have been made in any case than by method for drafting and registering an instrument. In such cases, a self-attested copy of the document confirming the creation of the trust, or foundation of the institution ought to be submitted to the Income Tax Department.
Provide a self-attested copy of the registration, which was made with the pertinent body. The relevant body might be the Registrar of Companies, the Registrar of Firms and Societies or Registrar of Public Trusts.
A self-certified copy of the document which serves as an evidence at the time of adoption or during alteration of the objective of the entity shall be submitted.
Financial report of the trust/institution for maximum three preceding financial year.
Note on activities which entity perform
There a few cases which may force Income Tax Department to cancel the registration issued under this section. Though once the assessee has resolved the issue he can file for the subsequent application. In such a scenario it is essential for the applicant to submit a self-certified copy of the existing order issuing registration.
In case assesse application has been dismissed, he needs to attach a self-certified copy of the order of rejection with the application.