Revival of Struck Off Companies by Companies Fresh Start Scheme, 2020 (CFSS-2020)
Following the power under Section 248(1)(c) to curb the operations of shells and increase the transparency of Companies, the Registrar of Companies struck off many Companies in 2017, 2018, and 2019. Accordingly, having jurisdictions to date, there have been three tranches of striking off done by the Registrar of Companies (ROC).
Everyone was facing difficulty in reviving their Companies before this date, on account of hefty penalties, elaborated and included in filing annual returns of the Company. However, additional fees on filing yearly returns have been waived off by the government amid widespread Novel Corona Virus after the introduction of the Companies Fresh Start Scheme, 2020 (CFSS-2020). Therefore, many people again have started giving thought to in receipt of getting their Companies revived.
The documents required for the revival of struck off companies
The application to restore the name of the Company shall be filed, stating that the Company was actually in operations (recommendatory) with the following documents:
– The certificate of incorporation
– The MOA
– The copy of the audited financial statement from the date of strike off
– Bank statements
– The striking off order of the Registrar of Company.
