Dissolution - Simplification of the existing procedure for removal of the names of defunct Indian companies from the register of Companies under section 560
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Striking off under section 560 now requires affidavit, indemnity bond, and prior notice to the income-tax commissioner. Registrars must obtain an affidavit from the managing director/whole-time director or two directors confirming no assets or liabilities and inactivity for at least one year supported by audited accounts, secure an indemnity bond from those officers to meet any liabilities post striking off, and issue a notice to the income-tax commissioner with incorporation and address details before removing a company's name from the register, while otherwise complying with the statutory removal procedure.
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 under section 560 now requires affidavit, indemnity bond, and prior notice to the income-tax commissioner.
Registrars must obtain an affidavit from the managing director/whole-time director or two directors confirming no assets or liabilities and inactivity for at least one year supported by audited accounts, secure an indemnity bond from those officers to meet any liabilities post striking off, and issue a notice to the income-tax commissioner with incorporation and address details before removing a company's name from the register, while otherwise complying with the statutory removal procedure.
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