If you’re a business owner in India, you may have heard of strike off companies. These are businesses that have been removed from the official register of the Ministry of Corporate Affairs (MCA) for various reasons, such as non-compliance with legal requirements. If you have questions about strike off companies in India, here are some frequently asked questions that might help.
- What is a strike off company?
A strike off company is a business that has been removed from the official register of the MCA. This means that it is no longer a legal entity and cannot conduct any business transactions.
- What are the reasons for a company to be struck off?
A company can be struck off for various reasons, including failure to file annual returns, non-compliance with legal requirements, failure to commence business within one year of incorporation, and non-operation of a bank account for more than six months.
- How can I find out if a company has been struck off?
You can check the status of a company on the MCA website by searching for its Corporate Identification Number (CIN) or name. If the status of the company is ‘strike off’, it means that it has been removed from the register.
- Can a struck off company be restored to the register?
Yes, a struck off company can be restored to the register if certain conditions are met. The company must apply for restoration within 20 years of being struck off, and it must pay all outstanding fees and penalties. The MCA will then conduct an investigation to determine whether the company should be restored.
- What are the consequences of a company being struck off?
A struck off company cannot conduct any business transactions, and any assets it owns will be transferred to the central government. The directors of the company may also be disqualified from being directors of any other company.
- Can I buy assets from a struck off company?
No, you cannot buy assets from a struck off company as the assets have been transferred to the central government. However, you can buy the assets if they are put up for sale by the central government.
- What should I do if I have transactions with a struck off company?
If you have transactions with a struck off company, you should contact the MCA to find out the status of the company. You should also seek legal advice to determine your rights and obligations.
In conclusion, strike off companies are businesses that have been removed from the official register of the MCA. If you have questions about strike off companies in India, the above FAQ may help you to better understand the situation. If you require further assistance, it is always best to seek professional advice from a qualified legal expert.
If you want to check strike off company status contact Microvista Technologies now.
About Microvista Technologies Pvt Ltd:
Microvista Technologies’ Strike Off Company Status check service enables you to verify the status of your company quickly and easily. With this service, you can get accurate information about your company’s status, which will allow you to make informed decisions about your business.
Microvista Technologies, the leading non-government company located in Ahmedabad, Gujarat. Our team of dedicated developers specializes in GST products, XBRL Filing Software, and provide top-notch solutions.