Narrate the circumstances in which the Registrar of Companies can remove the name of a company.
CS Professional · Advanced Company Law and Practice · PYQS · December 2021
Narrate the circumstances in which the Registrar of Companies can remove the name of a company.
Answer & Explanation:
Section 248 of the Companies Act, 2013 provides that the Registrar of Companies can start the process of removing the name of a company if it has reasonable cause to believe that - The company has failed to commence its business within one year of its incorporation; The company is not carrying on any business or operation for a period of two immediately preceding financial years and has not made any application within such period for obtaining the status of a dormant company under Section 455 of the said Act; or The subscribers to the Memorandum of Association 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 eighty days of its incorporation under Section 10A(1); or The company is not carrying on any business or operations as revealed after the physical verification carried out under Section 12(9) of the said Act.
Topics: Removal of Name of Company
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