NCLT REVIVAL OVERVIEW PROCEDURE OF COMPANY REVIVAL MADE

NCLT REVIVAL OVERVIEW & PROCEDURE OF COMPANY REVIVAL MADE BY : - GULSHAN KUMAWAT

• • • When The Company Fails To Commence Its Business Within A Year Of Its Incorporation Or Those Who Have Not Been Carrying Any Business Or Operation For A Period Of Two Financial Years Or Fails To Submit Yearly Returns, The Registrar By Its Own May Put The Name Of The Company Into Strike Off Means Removing The Name Of The Company From The Register Of Companies Maintained By The Registrar Of Companies. It Is More Like A Closure Of The Company And The Company Will Not Be In Existence After Being Struck Off And Cannot Perform Any Operation Thereafter. While Striking Off Imply Temporary Closure Allowing A Company To Restore Itself In Future. Revival Of Struck Off Company Is A Process To Make Your Company Active Your Company Again

PERSON WHO CAN APPORCH NCLT • • • 1) COMPANY 2) ANY MEMBER / CREDITOR 3) WORKMEN • Any Person Who Is Affected By The Order Of A Company Strike Off, May File An Appeal / Petition / Application For Revival Of The Strike Off The Company To The NCLT Within A Period Of Three Years From The Date Of The Order Of The Registrar. And The Burden Of Proof Would Be On The Person Applying For The Revival And If The NCLT Is Satisfied With The Justifications Given By The Concerned Person And Is Of The Opinion That The Removal Of The Company From The Register Of Companies Is Not Justified, It May Order The Restoration Of The Name Of The Company In The Register Of Companies

GROUNDS FOR REVIVAL OF COMPANY • • • 1) Where the company has some pending litigation. 2) Where the assets of the company has high monetary value. 3) For any other reason as the NCLT may allow

MAKING OF NCLT REVIVAL PETITION 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. MEMO OF PARTY LIST & DATES AND EVENT NOTICE OF MOTION/ADMISSION (NCLT-2) APPLICATION OF FORM NCLT-9 (PETATION) CERTIFICATE OF INCORPORATION ALONG WITH MOA-AOA STK-5 STK-7 FINANCIAL STATEMENT ALONG WITH ITR ( 3 YEARS ) LIST OF DIRECTOR’S & SHARE HOLDER’S BANK STATEMENT MEMORANDUM OF APPEARANCE (NCLT-12) COPY OF BOARD RESOLUTION (COMPANY LETTER) EVIDENCE REGARDING FEE PAYMENT ( D. D ) AFFADAVIT REGARTING PETITION (NCLT-6) COPY OF MASTER DATA

STEPS FOR REVIVAL OF STRICK OFF COMPANIES 1. 2. 3. 4. 5. 6. APPLICATION. PETITION TO ROC. HEARING ORDER FILING OF INC 9 ALONG WITH FINANCIAL STATEMENT & ITR ORDER IN GAZETTE

APPLICATION. THE PETITION UNDER SECTION 252 SHALL BE FILED WITH THE NCLT IN FORM NO. NCLT-9 ALONG WITH THE NECESSARY DOCUMENTS. PETITION TO ROC. 14 DAYS BEFORE THE DATE FIXED FOR HEARING OF THE APPLICATION HEARING THE TRIBUNAL WILL HERE THE PETITIONER AND RESPONDENT (ROC) AND TAKE NOTE OF THE OBSERVATIONS/ OBJECTIONS, IF ANY RECEIVED

ORDER ONCE THE HEARING OF THE APPLICATION IN WHICH BOTH PARTIES WILL PRESENT THEIR POINTS, THE TRIBUNAL MAY PASS AN ORDER, AS DEEMED FIT FILLING WITH ROC TAX BENEFITS AFTER SATISFACTION OF THE TRIBUNALTHE APPLICATION WILL HAVE TO DELIVER A CERTIFICATE COPY TO THE ROC WITHIN 30 DAYS OF THE DATE OF ORDER IN INC 28 ALONG WITH PENDING FINANCIAL STATEMENT AND RETURNS.

ORDER IN GAZETTE ONCE THE COPY IS RECEIVED ROC WILL PUBLISH THE ORDER IN THE OFFICIAL GAZETTE IN COMPANY OFFICIAL NAME AND SEAL.