CHAPTER-XVIII
REMOVAL OF NAMES OF COMPANIES FROM THE REGISTER OF COMPANIES
Notice by the Registrar to the Company for Removal of Name from Register of Companies
1 (1) For the purposes of sub-section (1) of section 248, the Registrar shall send a notice in Form No. 18.1 to the company and all the directors thereof, by registered post with acknowledgement due or by speed post of his intention to remove the name of the company from the register of companies and requesting them to send their representations along with copies of the relevant documents, if any, within a period of thirty days from the date of issue of receipt of such notice.
(2) Following companies, are not eligible for taking action by the Registrar under these rules:-
(i) Listed companies;
(ii) Companies that have been delisted due to non-compliance of listing agreement or any other statutory laws;
(iii) Vanishing companies;
(iv) Companies where inspection or investigation is ordered and beingcarried out or yet to be taken up or where completed prosecutions arising out of such inspection or investigation or pending in the Court;
(v) Companies where notice under section 206 of the Act has been issued by the Registrar and reply thereto is pending or where prosecution if any, is pending with the court;
(vi) Companies against which prosecution for non-compoundable offence is pending in Court;
(vii) Companies accepted Public Deposits which are either outstanding or the company is in default in repayment of the same;
(viii) Company having secured loan.
Explanation : “Vanishing company” means a company, registered under the Companies Act and listed with Stock Exchange which, has failed to file its returns with Registrar of Companies and Stock Exchange for a consecutive period of two years, and is not maintaining its registered office at the address notified with the Registrar of Companies or Stock Exchange and none of its Directors are traceable. |