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of <h1>Government Rescinds Circulars on Striking Off Defunct Companies, Emphasizes Compliance with Section 560 for Financial Accountability.</h1> The Department of Company Affairs has withdrawn circulars related to striking off defunct companies from the register until further notice. Previously, companies could file under the Company Law Settlement Scheme, 2000, but some attempted to exploit older circulars without submitting necessary documents like annual returns and balance sheets. The government emphasized compliance with Section 560 of the Companies Act, requiring complete financial documentation to ensure obligations to creditors and the government are met. Consequently, circulars from February 1987 and February 1991 have been rescinded to prevent misuse and ensure proper financial accountability.
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