Reviving Struck Off Companies: A Comprehensive Overview

Strike off means temporary closure of the company or removal of the name of the company from the register of company by the register following the previsions of the Companies Act, 2013. It is a substitute for winding up of the company, and in this case, the company can get revived for a period of 20 years from the date of strike-off. The appeal or application can be filed by the registrar, any person aggrieved by order of the Registrar or by Company, or by member or creditor or workman. The member, creditor or workman of a company can file a petition for Revival of the Company before the expiry of 20 years of striking off from notification in the official gazette under section 252(1), and others can file a petition under section 252(3) within three years from the publication of notification in the official gazette. The demand draft of Rs. 1000/- should be filed with the petition as fees. It is important that the appeal has to be filed within three years of the date of order of the register of company in case of compulsory striking off by the registrar and the limitation period is twenty years with respect to striking off the company’s name from the date of publication of notice in the Official Gazette. Grounds for Revival of Struck off Companies The grounds on which NCLT does the Revival of Struck Off Companies are as follows:- The company holds any immovable property. The company, apart from the Registrar of Companies, has complied with GST, income tax, provident fund, and such authorities, In case there is evidence stating that the company has an ongoing business as active transaction in the bank statements of the company. The company is renewing any license on an annual basis and other documents depending upon the circumstances. Any documents that shows that the company is ongoing business as active transaction in the bank statements of the company The company is renewing any license on an annual basis and other documents depending upon the circumstances. Any documents that shows that the company is ongoing or active and it will be in the public interest to revive the company.

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