Guide to Strike-off a Nidhi Company: Process, Prerequisites & Documents

HOW TO STRIKE-OFF THE NIDHI COMPANY 

This article is very important for the owners, if they want to close the Nidhi Company due to the following Reason

• If the Promoters has failed to file the Form NDH-4 with the due time as required under the companies Act, 2013 and rules made thereunder.
• If the Promoters of the Company has failed to get the License for the Nidhi Company due to the Non-Compliances under the Companies Act, 2013.
• If the promoters of the company decided voluntarily to strike-off or close the Nidhi Company.

In this article we will cover the following point for the in regard to the strike-off the Nidhi Company.

1. Applicable Provisions and Rules of Companies Act, 2013.
2. Pre-requisites for the strike-off of Nidhi Company.
3. Process for the strike-off the Company.
4. Documents to be prepared

A) Applicable Provisions for the Strike-off of Nidhi Company:

That the Process of the Strike-off is governed by the Provisions of the Section 248 of the Companies Act, 2013 and rules made thereunder as well as the Provisions of Companies (Nidhi) Rules, 2014.

B) Pre-requisites for the Strike-off Nidhi Company: 

• That Nidhi company must file the pending annual returns and financial statements up to the immediately previous financial year, in which financial year company has decided to strike-off the Company.
• Make an application for closure of all current accounts of Nidhi Company and obtain the Account Closure Certificate.
• Income Tax Returns of the Company must be filed up to the immediately previous financial year in which company has decided to strike-off the company.
• PAN of Company will be surrendered and required the NOC from the Income tax Department.
• Required the NOC for NO Dues if company is covered under the various regulator.
• Company will ensure that all the deposits which is accepted by the Company is returned by the company before the making the application for strike-off.
•  If company has any creditor as on the date of filing of the application for the strike-off the company must paid-off before the Filing of application.
• Company must sell off the all the assets and paid off the all the liabilities before filing of application. 

C) PROCESS OF STRIKEE-OFF NIDHI COMPANY 

1. Hold the Board Meeting of the Directors of Company resolution for the strike-off passed by the Board.
2. Issue notice of the General meeting of the Members of the company and resolution of the strike-off the company approved by the as a special resolution.
3. Company will file the form MGT-14 with in 30 days from the date of passing of special resolution in the general meeting.
4. After the filing the E-form MGT-14 for SR the company must file the application for the strike-off in form STK-2
5. Application for the strike-off filed along with the required documents.
6. After the filing the Application the C-PACE the if application in order then C-PACE will accept the application and Process for the Strike-off.

D) LIST OF DOCUMENTS PREPARED IN PROCESS OF STRIKEE-OFF

1. Board Resolution for the Strike-off.
2. Special Resolution for the Strike-off
3. Notice of the EGM along with explanatory statement.
4. STK-3 (Indemnity bond given by each Director)
5. STK-4 (Affidavit given by each Director)
6. STK-8 (Statement of Account)
7. Individual Consent by the every Directors

 Feel free to contact the author for further clarification at 8279255794 or via mail at [email protected]