A company is said to be defunct when it is no longer in business. A defunct company can be defined as a company who has not been in business either since one year of its incorporation or has failed to deliver any business in the preceding two financial years. Such companies become non-operative and hence are required to file for dormant status.
Registrar of Companies (ROC), by virtue of the power conferred under Section 248, can strike off defunct and shell companies.
Companies who were not satisfied with their name being stuck off by ROC, they can apply for the revival of their name under section 252 of Companies Act, 2013 by:
Under section 252(1) and section 252(3), an appeal shall be filed to the Tribunal along with the other information prescribed under NCLT Rules, 2016 or
The ROC can file an application if they believe that the name of the company has been stuck off by incorrect information.
Form NCLT 9 must be submitted along with the appeal made to the ROC. Here are the following documents that need to be attached along with the form:
A copy of the appeal or application filed by the company shall be sent to ROC or another person as prescribed by Tribunal within 14 days of the date fixed for the hearing of the appeal.
After hearing the appeal, if found satisfied the Tribunal can pass the order to revive the name of the struck off company
After the order is passed, the applicant has to deliver a certified copy of the order to the ROC within 30 days.
Once ROC receives the copy of the order, they publish in its official name and seal and also publish the order in the official Gazette.
The company after getting its name revived will now file for pending financial statements and annual returns with the Registrar and comply with the requirements of the Companies Act, 2013 and rules made under the time prescribed by the Tribunal.