When the company does not initiate its business within a year of its establishment or those who have not been carrying any business or function for over 2 financial years or does not submit yearly returns, the registrar by its own may put the name of the company into a strike off.

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Well, the word strike-off refers to the elimination of the Company’s name from the Register of Companies sustained by the Registrar of Companies.

It is more similar to Company closure and the Company will not remain in existence post being Struck Off and can’t do any function afterwards.

The Registrar of Companies in the financial year 2017-18 struck off numerous Companies as per the provisions of Section 248(1) of the Companies Act, 2013 in its first ditch and as a result, initiated its second drive to strike-off lakhs of Companies again in August 2018.

Any person who got impacted by the order of a company strike off may file a petition for the revival of the strike off the company to the NCLT within a span of 3 years from the date of the registrar’s order.

There would be a burden of proof on the person applying for the revival and if the NCLT is gratified with the grounds demonstrated by the concerned person and is of the opinion that the elimination of the company from the companies’ register is not justified, it may order the return of the name of the company in the companies’ register.

Who can Apply for the Revival of Strike-off Company?

Persons who can file a petition in NCLT to revive the company are the following:

• Company
• Any member/lender
• Workmen

What are the grounds for the restoration of the company?

The NCLT allows the revival of the struck off company on following grounds:

• If the Company possesses any property which is not movable.
• Aside from ROC, if the company has performed all other conformances with GST, Income Tax, Provident Fund, and such authorities.
• If there are proofs for the Company of an active transaction among many in the Company’s bank account statement.
• If the Company is choosing to restore any license annually such as FSSAI, Excise, etc., which is mandatory to be taken. Any other documents subject to the conditions. It varies on the basis of the case.
• The principal watchword of the logic that requires to be set up that there should be some document screening that the Company is an active one, and it’s in the ‘public interest’ to restore the Company.

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