Provisions for Resubmission of Form STK-2; Companies (Removal of Names from the Register of Companies) Amendment Rules 2022

Central Government notified amended rules for Company name strike off in which an option for resubmission of application is added.

The new sub rules added reads as follows:

in rule 4, after sub-rule (3), the following sub-rule shall be inserted, namely:─

“(4) (a) Where the Registrar, on examining the application made in Form STK-2, finds that it is necessary to call for further information or finds such application or any document annexed therewith is defective or incomplete in any respect, he shall inform to the applicant to remove the defects and re-submit the complete Form within fifteen days from the date of such information, failing which the Registrar shall treat the Form as invalid in the electronic record, and shall inform the applicant, accordingly.

(b) After the re-submission of the Form or document, if the Registrar finds that the Form or document is defective or incomplete in any respect, he shall give further time of fifteen days to remove such defects or complete the Form, failing which the Registrar shall treat the Form as invalid in the electronic record and shall inform the applicant, accordingly.

(c) Any re-submission of the application in Form STK-2 made prior to the commencement of the Companies (Removal of Names of Companies from the Register of Companies) Amendment Rules, 2022 shall not be counted for the purposes of reckoning the maximum number of re-submissions of such Form.”

Why this change is important

Prior to this amendment, in case the Registrar finds the form incomplete or defective, the form was treated as invalid and no option was given for resubmission. The hardship faced here was the high fee of Rs. 10,000, which must be paid again while filing a fresh application. The amendment has also empowered the registrar to call for further documents in case he finds the form incomplete or defective. The resubmission time limit for STK-2 is prescribed at 15 days, after which the application will be treated as invalid in the electronic record.

Further changes

The amendment also introduced changes in Form STK-1 (Application for Strike off), STK-5(Public notice by Registrar in case of application for windup) and STK-5A (Public notice in case of suo moto windup by Registrar). The forms have now been amended to accommodate winding up in cases where the subscribers failed to bring in the agreed amount within 180 days of incorporation.

Following clause have been added in Forms:

“(c) the subscribers to the memorandum have not paid the subscription which they had undertaken to pay at the time of incorporation of a company and a declaration to this effect has not been filed within one hundred and eighty days of its incorporation under sub-section (1) of section 10A.”

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