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Showing posts from November, 2017

RESTORATION/REVIVAL OF NAME OF COMPANY STRIKED OFF UNDER SECTION 248 OF THE COMPANIES ACT, 2013

RESTORATION/REVIVAL OF THE NAME OF THE COMPANY There were a lot of companies who did not file their financial statements and Annual Return for many years and in some cases since its incorporation. And for Registrar of Companies, this is reasonable cause to believe that those companies are inactive. As per Section 248(1) of the Companies Act, 2013, If Registrar has reasonable cause to believe that: 1.        A company has failed to commence its business within one year of its incorporation, or 2.        A company is not carrying on any business or operation for a period of 2 immediately preceding financial years, Shall send the notice to the company and its directors for striking off the name of the company from register of companies and requesting them to send representation along with the relevant documents within a period of 30 days from the date of notice. If no such representation is received or after expiry of the period of 30 days, ROC shall strike off the

Power of Tribunal to call Annual General Meeting (AGM)

POWER OF TRIBUNAL TO CALL AGM In my previous article “Extension of Annual General Meeting” ( you can view the same on my blog at csvishalsharma.blogspot.in ), I have explained the procedure for extension of AGM. But sometimes Company makes default in holding AGM, in that case a member of the company can make an application to the Tribunal to call AGM. As per section 97 of the Companies Act, 2013, if any default is made in holding AGM of the company, the tribunal may, on the application of any member of the company, call or direct the calling of an AGM of the company and give such other directions as the tribunal thinks fit and such directions may include a direction that one member of the company present in person or by proxy shall be deemed to constitute a meeting. An application to the Tribunal for calling or obtaining a direction to call the AGM of the company shall be made by any member of the company in Form NCLT-1. A copy of an application shall be served on