Ministry of Corporate Affairs (MCA) via a notification dated 8th May 2019 has amended the Companies (Removal of Names of Companies from the Register of Companies) Amendment Rules, 2019 which shall come into force with effect from 10th May 2019. The new rules which are notified above shall be discussed here in this article.
Forms
Following are the forms discussed in the notification released by the Ministry of Corporate Affairs (MCA)
- Form STK-2
- Form AOC-4
- Form MGT-7
- Form STK-8
Form STK-2
Form STK-2 is the application made by the company to the Registrar of Companies (ROC) for removing the company name from the Registrar of companies.
With effect from 10th May 2019, as per the amendment, the application fees for filing Form STK-2 have been increased from Rs.5,000/- to Rs.10,000/-.
Form AOC-4
Form AOC-4 is a form used by the company to file its annual financial statements for every financial year with the Registrar of companies (ROC).
This form is required to be filed within 30 days from the date of the Annual General Meeting or in case Annual General Meeting has not held within the due date i.e. 30th September then within 30 days from the due date in which the Annual General Meeting would have held.
Form MGT-7
Form MGT-7 is an automated electronic-form issued by the Ministry of Corporate Affairs (MCA) for the companies to register their annual return.
Every Public and Private company registered under the company’s act has to register their annual return in e-form MGT-7 within the 60 days from the end of it’s AGM.
Form STK-8
As per the amendment made by the Ministry of Corporate Affairs (MCA), Form STK-8 is used to file the statement of accounts of the company containing assets and liabilities which the company made up to the date not exceeding more than 30 days before the date of application i.e.., Form STK-2. The Form STK-8 has to be certified by the Chartered Accountant.
Modes of Strike off
As per the companies act 2013, there are two modes of Strike off which has been listed below
- The company may voluntarily strike off on its own under section 248(2) of the companies act
- The company Strikes off by the Registrar of companies (ROC) under section 248(1) of the companies act.
The company which voluntarily strike-off u/s 248(1) of the companies act
Before 10th May 2019, there is no requirement of filing overdue returns in Form No. AOC-4 (Financial Statement) or AOC-4 XBRL, as the case, as may be, and Form No. MGT-7 (Annual Return), till the end of the financial year in which the company ceased or stopped to carry its business operations.
As per the amendment made by the Ministry of Corporate Affairs (MCA), with effect from 10th May 2019 the Form.No.STK-2 application for striking off the name of the shall be allowed to be filed only if the company has filed Form No. AOC-4 (Financial Statement) or AOC-4 XBRL, as the case, as may be, and Form No. MGT-7 (Annual Return), till the end of the financial year in which the company ceased or stopped to carry its business operations.
Company Strikes off by the ROC under section 248(1) of the companies act.
The Registrar of Companies (ROC) can strike off or remove the name of the company from the register of companies under section 248(1) of the companies act if the Registrar has the following reasonable reason or cause to believe
- The company has not commenced or failed to commence the business operations or activities within one year from the date of incorporation.
- The subscribers to the memorandum have not paid the share value or the subscription amount which they had undertaken to pay within the period of one hundred and eighty days from the date of its incorporation and a declaration under section 11(1) has not been filed within the period of one hundred and eighty days
- The company is not carrying or doing any business or operations during the period of two immediately preceding financial years and has not filed any applications during the period of two immediately preceding financial years for an intention to obtain the status of a dormant company under section 455 of the companies act.