23 November 2021
Pls advise on notice received from roc for striking off the company where all the directors are disqualified and also annual returns from 2018 is pending.
What steps should be taken for revival or striking off of the company urgently.
09 July 2024
When dealing with a notice from ROC (Registrar of Companies) for striking off the company due to disqualification of directors and pending annual returns, it's crucial to take immediate action to either revive the company or proceed with the striking off process, depending on your circumstances and intentions. Here’s a step-by-step guide on what you can consider:
### Steps for Revival or Striking Off:
#### 1. **Understand the Notice and Compliance Requirements:** - Carefully review the notice received from ROC. Understand the reasons for disqualification of directors and the specifics of pending annual returns. - Note the deadlines or timelines provided in the notice for compliance.
#### 2. **Assess Company's Status:** - Determine the current status of the company's operations, financials, and any liabilities. - Assess whether there is a possibility or intention to revive the company or if striking off is the preferred option.
#### 3. **Revival of the Company:** - **Director Disqualification:** If directors are disqualified, identify the reasons (e.g., non-filing of annual returns, defaults). You may need to appoint new directors who are eligible to revive the company. - **Pending Annual Returns:** Complete and submit all pending annual returns and other required filings with ROC. - **Application for Revival:** Prepare and file an application for revival with ROC. This typically involves submitting: - Updated financial statements and annual returns. - Resolution of the board of directors for revival. - Payment of any pending fees or penalties. - Any other documents or information required by ROC.
#### 4. **Striking Off (Voluntary or by ROC):** - If reviving the company is not feasible or desired, consider voluntarily striking off the company. - Follow the procedures and requirements for striking off as per Companies Act, which may involve: - Resolving liabilities and debts of the company. - Obtaining consent from directors and shareholders. - Filing necessary forms and declarations with ROC. - Publication of notice for striking off, if required. - Closure of bank accounts and disposal of assets as per legal requirements.
#### 5. **Compliance and Documentation:** - Ensure all compliance requirements are met, including statutory filings, payment of penalties (if any), and submission of necessary documents. - Maintain records of all communications, filings, and transactions related to the revival or striking off process.
#### **Legal Advice:** - Seek legal advice from a qualified company secretary or lawyer specializing in corporate law to navigate the process effectively. - They can assist in drafting necessary resolutions, applications, and ensuring compliance with ROC regulations.
#### **Timely Action:** - Act promptly to meet the deadlines specified in the ROC notice. Delay in response could lead to further complications or penalties.
### Conclusion: Depending on your company's situation and objectives, you may need to choose between reviving the company by addressing director disqualifications and pending annual returns or opting for voluntary striking off. Both processes require careful consideration of legal requirements and timely compliance to avoid further regulatory issues. Consulting with a professional who understands corporate law and ROC procedures can greatly facilitate the process and ensure compliance with legal obligations.
CAclubindia
