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Case Study on Revival Of A Company Under The Companies Act, 2013

July 28, 2020

About the client:

R&A Associates has advised and assisted companies which have been struck off to revive back and commence its operations. This particular client has been primarily engaged in the business of property development, civil construction contracts and infrastructure project development and construction work. The company was struck off pursuant to an order passed by the Registrar of Companies (ROC), Hyderabad on one of the grounds mentioned under Section 248(1) of the Companies Act, 2013.

The Appellate authority to be approached for obtaining the order for revival is the National Company Law Tribunal (NCLT). In case on an order for strike off, any aggrieved stakeholder be it member, shareholder, director, employee or Income tax department may file an appeal  before the NCLT for revival.

In the instant case, the promoters of the Company approached R&A Associates to help them with the revival of company and after successful completion of the assignment, the client continues to avail Corporate Secretarial services from us on an ongoing basis.

Our Association and work- The process of revival of the company at the initiative of the promoters can be broadly compartmentalized into two major activities – (i) revival of the company and (ii) activation of Director Identification Number (DIN) of the Directors associated with the Company.

The sequence of activities is outlined below:

  • First and foremost, the appeal for revival to NCLT must be filed within a period of three years from the date of the order of the ROC.
  • Evaluating the eligibility of the company for revival based on various parameters as in the time gap since the commencement/carrying of of business/operations, assets held, compliance status etc., by reviewing its Financial Statements.
  • Advising the client on the documentation with a complete checklist of information to be provided.
  • Preparing the appeal petition under Section 252(3) along with the necessary documents for revival of the Company as and for activation of Director Identification Number (DIN) of the directors associated with it and filing the same with National Company Law Tribunal (NCLT) with a copy forwarded to ROC.
  • Coordinating and following up with the ROC to forward its observations/comments to the NCLT on the application for the revival of the company.
  • Representing the client before the NCLT at the hearing with the request to pass favourable order for restoration of the name of the Company and following up for the issuance restoration/revival order.
  • Upon receipt of revival order, filing the same with the ROC within the specified timelines along with the fees & costs as advised by NCLT.
  • Coordinating with ROC for change of Company status from “Strike off” to “Active” and activation of Director Identification Number (DIN) of all its directors.
  • Undertaking preparation, certification and filing of pending Financial Statements, Annual Returns and such other forms as may be required with the ROC and complying with the requirements of the Companies Act, 2013 and rules made there under

Once the final activity as mentioned above is done, the Company is ready to commence its operations. We have been able to go through the entire process and complete is successfully for various clients of ours.

At R&A Associates, we offer end-to-end support relating to revival of companies which have been struck off pursuant to the order of ROC. Based on our past experience of handling various such assignments, we have observed that the process is a bit complex and time consuming and so it is important to hire the right professional.

Do write to us in case you want to know more at [email protected]

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