MCA Amends Strike-off Rules; brings more Clarity on Filing of Overdue Financials before Applying for Striking-off

 ​    Notification No. G.S.R. 354(E), Dated: … Continue reading “MCA Amends Strike-off Rules; brings more Clarity on Filing of Overdue Financials before Applying for Striking-off”
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Notification No. G.S.R. 354(E), Dated: 10.05.2023

The Ministry of Corporate Affairs (MCA) has notified an amendment to the Companies (Removal of Names of Companies from the Register of Companies) Rules, 2016. The amendment provides more clarity on the filing requirements of overdue financials before applying for strike-off.

As per the amended norms, the company cannot file a strike-off application unless it has filed overdue financial statements under section 137 and overdue annual returns under section 92, up to the end of the financial year in which the company ceased to carry out its business operations.

Previously, the MCA, vide the amendment introducing the Centre for Processing Accelerated Corporate Exit, had removed the requirement for up-to-date financial results and annual returns. However, this requirement has now been reintroduced. The present amendment shall be effective from 10.05.2023.

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