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Ultimate Guide To Avoiding Risky Business: Identifying MCA Struck-Off Companies

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What Does It Mean For a Company To Be Struck Off By The MCA?
When a company is struck off by the MCA, it means that the company is no longer recognized as a legal entity. The MCA takes this action when a company fails to comply with statutory requirements or engages in activities that are harmful to its shareholders or the public interest. This process effectively removes the company from the official records, making it legally non-existent.
Reasons For a Company To Be Struck Off
Companies are typically struck off by the MCA for various reasons, including:

Failure to file annual returns and financial statements as required by law.
Non-compliance with statutory requirements, such as not holding annual general meetings.
Non-payment of statutory dues, such as income tax or Goods and Services Tax (GST).
Involvement in fraudulent activities or misuse of the corporate structure for illegal purposes.
Consequences of Being a Struck-Off Company
The company loses its legal status and is no longer recognized as a separate legal entity.
The company cannot enter into contracts, own assets, or carry on any business activities.
The company's bank accounts are frozen, and any funds held in those accounts are transferred to the government.
The company's directors may be held personally liable for the company's debts and liabilities.
Damage the company's image and make it difficult to attract new clients or investors.
Lead to legal consequences, as struck-off companies can face penalties and legal actions for their non-compliance or fraudulent activities.
How To Check If a Company Has Been Struck-Off By The MCA
Business owners, investors, and stakeholders need to be verify the status of a struck-off company online.
Visit mca.gov.in
Click MCA Services
Enter the Company Name or Registration Number
View the Company Status
Else use InstaFianancials for more ease & convenience. This platform offers comprehensive insights into struck-off companies online. By utilizing this user-friendly tool, you can effortlessly search for company names, instantly access company registration details, Strike off companies list, and explore potential related parties and director disqualification status. This can be valuable for conducting due diligence and making informed decisions when engaging with a company.
Steps To Revive An MCA Strike Off Companies
Review the Reasons for Strike Off: This could include non-compliance with filing requirements, non-payment of statutory dues, or other violations of company law.
Address Outstanding Compliance Issues: Check the filing of overdue annual returns, financial statements, or pending documents. Pay any outstanding fees, penalties, or taxes.
Settle Outstanding Liabilities: Clear any outstanding debts, dues, or liabilities of the company.
Gather Stakeholder Support: Hold a board meeting or an extraordinary general meeting (EGM) to pass resolutions related to the revival.
Engage Legal Professionals: Seek legal advice from professionals experienced in corporate law and the process of reviving struck-off companies.
Prepare an Application for Revival: Prepare a petition or application for revival in the prescribed format. This application should include details about the company, the reasons for striking off, the steps taken to address the issues, and the proposed plan for revival.
Submit the Application to NCLT or Relevant Authority: Apply to revival with the National Company Law Tribunal (NCLT) or the relevant authority, depending on the jurisdiction and the specific circumstances. Pay the required application fee.
Attend NCLT Hearings: Attend hearings and proceedings as scheduled by the NCLT. Be prepared to present your case and provide evidence of your efforts to revive the company.
Obtain NCLT Approval: If the NCLT is satisfied with your application and the steps taken to rectify the issues, it may issue an order for the revival of the company.
File Updated Documents: File updated documents with the Registrar of Companies (RoC) to reflect the revived status of the company.
Resume Business Operations: Once the company is officially revived, it can resume its business operations and carry out its regular activities.


Strategies To Avoid Being Struck Off By The MCA
Conduct regular compliance reviews to ensure that all statutory and regulatory requirements are being met.
Stay updated on changes in corporate laws and regulations.
Maintain accurate and up-to-date records of the company's activities, financial transactions, and corporate governance.
Ensure that all required documents and forms are filed with the Registrar of Companies (RoC) within the prescribed timelines.
Pay all taxes, including income tax and Goods and Services Tax (GST), on time and accurately.
Hold regular board meetings and annual general meetings (AGMs) as required by law
Check the Director Identification Number (DIN) status regularly.
Implement and adhere to good corporate governance practices
Address any legal notices or communications from the MCA or other government authorities promptly.
Ensure that the company's contact information with the RoC and other authorities is up to date.
Avoid engaging in fraudulent or illegal activities
Ensure that the company maintains adequate capital as required by law.
Stay Compliant with the Companies Act 2013.
Periodically check the ROC website for any notices, updates, or compliance.
Prevention is always better than cure when it comes to MCA strike-offs. Business owners can take several measures to ensure their companies remain in good standing with the MCA.
Legal Implications and Penalties For Strike Off Companies
Being struck off by the MCA is not just a matter of losing legal status; it can also have legal implications and penalties. Directors of struck-off companies may face personal liability for the company's debts and liabilities. They may also be subject to legal actions, fines, and even imprisonment in cases of fraud or non-compliance.
Directors and stakeholders of companies must understand the legal implications and penalties associated with being struck off. By adhering to legal and ethical standards, maintaining good corporate governance practices, and seeking professional advice when needed, companies can minimize the risk of facing severe legal consequences.
InstaFinancial Struck-Off Companies List
Let InstaFinancials be your trusted resource in discovering the extensive struck-off companies list in India. We have been providing MCA struck-off service to large corporations, large audit firms, and professionals. We are willing to sign an NDA to ensure the confidentiality of our process and the information exchanged during the transaction.
With our Bulk Search service, you can now verify the MCA Company Status of your customers, vendors, shareholders, parent, subsidiary firms, or linked parties in one go to meet the disclosure requirement of struck-off companies.
Other Services With Us
InstaAPI can integrate your application with our APIs to get the most up-to-date and correct business status instantaneously by company name, CIN, or PAN, and you can use InstaAPIs to automate your company status check.
The Company Status Alerts service keeps you up to date on the latest company status of your customers and vendors regularly. You can sign up for  InstaAlerts for all of your clients for a year and receive monthly updates as well as the most recent and accurate status through email.











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