Section 560

Pvt ltd 558 views 3 replies

CA Awnindra Kumar

Individual Practice

25 Points Joined June 2012

Hi everyone.

A Pvt. Ltd. has got a final notice u/s 560 of the Companies Act,1956 wherein three months time has been given for showing anything to the contrary otherwise name of the company will be removed from the register.

The company is actually not in operation. So there's no harm as such if the name of the company is struck off.

As per Master Data, date of last balance sheet and agm is 31.03.2010 and 30.09.2010 respectively.

I want to know that what will be the liability of the directors after the name of the company is struck off ?

Is there any cost or any loss if we do not send any reply and let the department dissolve the company ?

Plesase treat my query as important and urgent. Waiting for your valued responses....

Thank You

Replies (3)

CS Ankur Srivastava

Company Secretary & Compliance Officer

17858 Points Joined November 2008

After due notices the name of the Company shall be removed from the register of Companies.

CA Awnindra Kumar

Individual Practice

25 Points Joined June 2012

Dear Ankur and all other friends

You are right that after due notices, name of the company shall be removed from the register.

I am repeating the fact of the case here - A pvt. ltd. company has got a final notice u/s 560 that in three months' time, name of the company shall be struck off from the register. No reply was given to the initial notices sent by the department.

But what I want to know is that what shall be the consequences of striking off ?

Q 1. The company has not filed its returns for FY 10-11 and FY 11-12. Will it be required to file these returns now before or after striking off ?

Q 2. Will this striking off affect the directors of the company in any way ? Such as can they assume directorship in other companies or can they form new company ?

Q3. Is there any monetary cost or loss involved in this process ?

I shall be very thankful on getting your answers.