Striking off the small company: New rules dated 8th May 2019

MCA has notified the Companies (Removal of Names of Companies from the Register of Companies) Amendment Rules, 2019

Notification Date: 8^th May 2019

Effective date: 10^th May 2019

Refer Article No. 01 January 2017 https://csnehasethassociates.blogspot.com/2017/01/fast-track-exit-of-company-inoperative.html

Earlier	Now
Government fees for filing eForm STK 2 was Rs. 5000	Now, Revised Government fees for filing eForm STK 2 is Rs. 10000 w.e.f 10th May 2019
Earlier to this amendment, it was only two eligibility criteria i.e.; 1)    The company should be small company 2)    Only those small companies to apply for striking off which have; -       failed to commence its business within one year of its incorporation; OR -      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	Now, in addition to earlier eligibility criteria, it is mandatory to file overdue Annual Returns in eForm AOC 4 and eForm MGT 7 upto the end of FY in which the company ceases to carry on its business operations
In cases where striking off application has been filed after the Registrar has initiated action against the company and its directors and removed their names from register	It is now mandatory to first file overdue Annual Returns before filing eForm STK 2
Earlier to the amendment, Statement of Accounts was given by any CA be it Auditor or any other qualified Chartered Accountant in its own format	Now, format has been prescribed by MCA in STK 8. STK 8 is all about details of Assets and Liabilities not older than 30 days from the date of submission of STK 2