Section 248 - Power of Registrar to remove name of company from register of companies

Strike off of company names: Registrar may remove inactive companies after notice, with liabilities surviving dissolution.

The Registrar may remove a company's name from the register where specified grounds such as failure to commence business, prolonged non operation, unpaid subscriber subscriptions, or non operation discovered on verification exist; he must serve notice to the company and directors, publish the notice, invite representations, and may strike the name off after the notice period. Companies may apply for voluntary removal after satisfying liabilities and passing the required member resolution, subject to prescribed procedure and regulatory approval where applicable. Director and member liabilities survive dissolution and the Tribunal retains wind up powers.