RESTORATION OF NAME STRUCK OFF COMPANY BY NCLT CHANDIGARH

Last Updated on April 10, 2020 by Legalseva.net

A company can be struck off by the NCLT for various reasons enumerated under section 248 and section 164 of the Companies act, 2013. Such a case where a company has been struck off by the NCLT, there exists a procedure under which a company can be revived by filling a petition with the NCLT. If a company or any member or creditor or workman has been aggrieved by the company’s name struck off under section 248, it can apply to the Tribunal to restore the company’s name, within a period of 20 years from the date of publication of striking off notice in the official Gazette.

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The MCA issued a notification regarding the procedure of restoration of name of company by inserting Rule 87A in National Company Law Tribunal Rules, 2016 (‘Principal Rules’); As per said Rule, an appeal u/s 252(1) or application u/s 252(3) may be filed before the Tribunal in Form No. NCLT 9 against notice of the Registrar for removal of Company name from the register of companies, and a copy thereof is to be served to the Registrar and on such other persons not less than 14 days before date fixed for hearing; Where Tribunal directs restoration of Company name, appellant / applicant has to inter alia deliver certified copy of order to the Registrar within 30 days and company has to file pending financial statements and annual returns and comply with requirements of Cos. Act 2013 and Rules there under within stipulated time.

The application for restoration of Company name by Registrar where the name has been struck-off either inadvertently or on the basis of incorrect information furnished by the company or its directors, is to be filed in Form NCLT 9 and upon hearing, Tribunal passes an appropriate order.

The Tribunal, after submission of the application, gives a reasonable opportunity of being heard to ROC (registrar of companies), company and all the parties concerned and thereafter, pass an order that it deems fit.

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 Following is the detailed procedure for the same-

An appeal under section 252(1) and Section 252(3) should be filed before the Tribunal along with other information as per the NCLT Rules, 2016.An application filed by the Registrar of Companies if he’s of the opinion that the name of the company has been struck off on the basis of incorrect or inadvertent information, for restoration of name of a company in the register of companies.

Following are the attachments which should be attached with the application-

Copy of MOA and AOA of the Company;

List of Directors of the Company;

CTC of the order of Registrar for strike off;

Available signed Balance Sheets of the Company;

CTC of Board Resolution passed by the company for making petition to NCLT to make

appeal against the order of Registrar;

Affidavit verifying petition;

Copy of bank draft evidencing payment of application fee;

Memorandum of appearance.

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Service of Appeal / Application

A copy of the appeal or application shall be served by the company to the Registrar and on such other persons as the Tribunal may direct, not less than fourteen days before the date fixed for hearing of the appeal or application.

Passing of Order

Upon hearing the appeal or the application or any adjourned hearing thereof, the Tribunal may pass appropriate order, as it deems fit. Where the Tribunal makes an order restoring the name of a company in the register of companies, the order shall direct that

-The appellant or applicant should deliver a certified copy to the Registrar of Companies within thirty days from the date of the order in INC 28;

On such delivery, the Registrar of Companies do, in his official name and seal, publish the order in the Official Gazette;

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The appellant or applicant do pay to the Registrar of Companies his costs of, and occasioned by, the appeal or application, unless the Tribunal directs otherwise, and the company has to file pending financial statements and annual returns with the Registrar and comply with the requirements of the Companies Act, 2013 and rules made there under within such time as may be directed by the Tribunal.

The Company, Member or Creditor or even a Workman can make an application to revive the Company. Such an application must be made before the expiry of 20 years from the publication in the Official Gazette of the notice of the striking-off.

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For case  specific advice, one may contact best NCLT Chandigarh Lawyers Advocate in Punjab Haryana.

This post is written by Kaustubh Kulkarni .

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