Striking off company names: streamlined exit procedure allowing defunct companies to apply for deregistration under section 560. The Simplified Exit Scheme, 2005 enables eligible defunct companies to apply under section 560 of the Companies Act, 1956 for striking off their names from the Register. Eligibility excludes section 25 companies and imposes special conditions for NBFCs and Collective Investment Management Companies requiring regulatory no-objection where registered. Applications must use prescribed forms, be supported by affidavits declaring absence of assets and liabilities, and include notarized indemnity bonds. Financial documentation varies by operating history; companies with pending non-compoundable prosecutions are ineligible. Striking off is effective from the ROC order and applications attract a prescribed fee.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Striking off company names: streamlined exit procedure allowing defunct companies to apply for deregistration under section 560.
The Simplified Exit Scheme, 2005 enables eligible defunct companies to apply under section 560 of the Companies Act, 1956 for striking off their names from the Register. Eligibility excludes section 25 companies and imposes special conditions for NBFCs and Collective Investment Management Companies requiring regulatory no-objection where registered. Applications must use prescribed forms, be supported by affidavits declaring absence of assets and liabilities, and include notarized indemnity bonds. Financial documentation varies by operating history; companies with pending non-compoundable prosecutions are ineligible. Striking off is effective from the ROC order and applications attract a prescribed fee.
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