Part XIII of the Constitution of India contains provisions relating to the freedom of trade, commerce and intercourse within the territory of India. The provisions are laid down in articles 301-307. Just as the Legislature cannot take away individual freedom of trade, wise versa the individual cannot barter it away by agreement.
High percentage of non-compliance of the Companies Act and Rules, the Ministry of Corporate Affairs (MCA) with Registrar of Companies (ROC) had issued show cause notices to various companies. After that various companies received notice regarding removal of name of a company from the register of companies as per sub section (1) of section 248 of Companies Act, 2013 and rules 3 of the Companies Rules, 2016.
