The concept of strike off got immense significance when the registrar of Companies was directed to struck off over 2 lac companies in year 2017. The Ministry of Corporate Affairs (“MCA“) vide Notification1 dated 26.12.2016 notified Section 248 to 252 of the Companies Act, 2013 (“Act“) and revised the process of striking off the name of the company from the register of companies maintained by the Registrar of Companies (“ROC“). The procedure of strike off the name of company through the Fast Track Exit (“FTE“) mode under the provisions of section 560 of the Companies Act, 1956 stands revised and accordingly, the “Strike Off” mode was introduced by the MCA vide said notification. The provisions relating to Strike Off provide an opportunity to the defunct companies to get their names struck off from the records of the ROC.
As per provisions of the Companies Act, 2013 following are the ways in which Company can be struck off from the register of Companies;
Strike off by ROC SUO Moto under section 248(1) of the act
Strike off by way of filing application by the Company under Section 248(2)
The Companies which are struck off from the register of Companies, can be revived by Tribunal (NCLT) upon petition filed by