The company is a separate legal entity which is incorporated with association of two or more people for the purpose of yielding profit with commercial activities. Company registration in Erode explains about the strike off. It means that the company is dissolved, the process of removing details from Companies House register. When the company name is removed from the register, it will no longer exist. Of course the companies that are solvent will be dissolved. Even if there are many debts, then the company can be dissolved. Also the Director of the dormant company can voluntarily choose the strike off. The compulsory strike off happens if the Directors do not reply for the warning, and do not file the account. It includes, the company will not remain as the legal entity from the date of dissolution. The assets of the company will be like public property. The banks will not provide funds. Company registration in Erode states that the strike off can be restored.
Restoration of strike off
The revival can be initiated when the companies can apply for the NCLT (National Company Law Tribunal). Company registration in Erode states that the following companies can be revived that the companies that are dissolved by ROC. And also the shareholders that are deregistered by ROC. And the labors who are deregistered by ROC. The time period of filing the revival of the company is 3 years.
Procedure for revival of strike off company
The Company registration in Erode gives the procedure of reviving the strike off companies. The first step is to prepare the petition rule 87. Under section 252 (3), petition can be filed. The petition can be filed in Form No.NCLT-9. The prepared petition can be submitted with ROC within 14 days. Followed by attaching the documents with NCLT-9. Three copies of the petitions, memorandum of the appearance and other supporting documents with required fees should be attached.
The next step is hearing will be made by the Tribunal rule 87 a (3). The tribunal hears the petitioner and all the observations and the objections are made. When it is satisfied only the ROC will restore the company. The Directions by the Tribunal rule 87 (A), the applicant shall deliver the copy that was certified by the ROC. Also the company needs to file all the pending documents and the financial statements which are prescribe the Companies Act 2013. The next step is filing of the order with ROC (Registrar of the Company). When registering a company the name is the most important aspect and also when the company is struck off the revival of the name is also important. So as to revive the name Company registration in Erode suggests to file an appeal to the tribunal for the revival. Under 252 companies Act 2013, company can file for an appeal or file the application within 3 years from the date of struck-off.
Procedure
Company registration in Erode gives that detailed procedure. Firstly the application to be filed to the NCLT. The documents such as MOA and AOA, names of the Directors, signed balance sheet of the company, copy of strike off order, copy of board resolution passed by the company, an appeal against the order of the registrar, copy of bank draft and memorandum of the appearance should be given. Later the application of ROC must be filed. Thereafter hearing the appeal, if the Tribunal is satisfied, revival of the name is done. In this procedure the role of the ROC, is when the copy of the order is received, it will be published in the gazette.
Share capital
Company registration in Erode explains that the shares that are exchanged by the company for raising the funds by the company are called share capital. The shares in the company can vary from one another. The share capital reduction is the process of reducing the shares by means of cancelling, repurchasing the shares and tapering the shareholder’s assets. Company registration in Erode explains the procedure to be followed for the share capital reduction. The share capital is entitled to reduce the share capital by the members on their own. It is the most sensitive decisions of the company and this decision of the majority should be taken by passing special resolution. The reduction only takes place when the documents are registered with the ROC. So basically the Board resolution and filing of the forms should be done. The list of the creditors with the names and the address, certificate of the auditor of the company, certificate of author and the declaration of the Director, Section 133 of the Act has specified these. The notice by NCLT will be given to ROC and SEBI in the form R SC-2 within 15 days of the notice to the creditors. Then filing the affidavit in the form RSC-5. The objections can also be raised. And after receiving the order from the NCLT, company will deliver certified copy E-form INC-28. Then the ROC will issue certificate to effect in Form RSC-7.
Kinds of share capital
There are many kinds of share capital. They are: Authorized share capital, paid up share capital, called up capital, issued share capital, subscribed share capital. To check for the share capital of the company, the readers may visit the MCA website which is the Ministry of Corporate Affairs website, and get into master data of any company to check for the capital. All the benefits in real time is updated without the need of the CIN (Corporate Identity Number). Company registration in Erode explains that the authorization of share capital may be increased. It will help the company to get loans from the bank, based on the equity capital funds may be issued and settling the external investment can be easily done. The increase in the capital by applying within 30 days of conducting general meeting. And if the company is unable to file the form within 30 days additional fee as penalty will be taken. Hence for further updates and for registering the company; Company registration in Erode is