Notarized Statement Of Assets And Liabilities: Fill & Download for Free

Attention all the Directors and Dear Professionals, this post can be of your use on ground of varied grounds.Well, strike off / Closing of companies which is inoperative is of utmost importance because of unnecessary compliance cost, Liabilities on the part of Directors . below is the procedure which can be adopted for striking off of company .Note:-Please Close the Bank account of the company (Current Account) if opened .Since the strike off of company is entirely covered by Companies act , 2013 here are the steps below:·Strike off by ROC under Section 248(2) of the Companies Act 2013:The company can file an application in E-form STK-2 with Registrar of Companies suo-motto after extinguishing all its liabilities, by special resolution or with the consent of seventy five percent of the members in terms of paid up share capital, to the Registrar for removing the name of the Company on all or any of the above mentioned grounds:1. Holding of Board Meeting2. Extinguishment of all Liabilities3. Holding for General MeetingThe Company will hold the general meeting of shareholders by passing a resolution for striking off the name of the Company with the approval of 75% of members as per paid up share capital of the Company and after passing of Special resolution Company will file E-form MGT-14 within 30 days.4. Application to ROC by ROC by CompanyApplication in Form STK- 2 to be filed by the Company (Government filing fees of INR 5000) along with following documents:Indemnity Bond duly notarized by every director in Form STK 3.A statement of accounts containing assets and liabilities of the company made up for a day, not more than 30 days before the date of application and certified by a Chartered Accountant.An affidavit in Form STK 4 by every director of the company.CTC of Special Resolution duly signed by each Director.In the case of a Company regulated by any other authority, approval of such authority shall also be required.A statement with respect to any pending litigations, involving the Company.Bank Account closing certificate.What is the status of Assets and Liabilities of Company after strike off?The liability of every director, manager or other officer, who was exercising any power of management, and of every member of the company dissolved under sub-section (5), shall continue and may be enforced even after strike off.Another concern for a company whose name has been struck-off by the ROC is that Asset, Rights, Cash balances and other Current or Non-current Assets of the company is vested with whom? In the absence of any specific provisions in the Companies Act, 2013, it is highly debatable issue as to status of assets after strike off.

Following is the brief process to deregister/strike off a Private Limited Company in 2020Which Companies can apply?A Company that has not commenced its business within one year of its incorporation or a company which is inactive for the past two immediate years can apply for STK-2 (Form for Application for Striking off Name of a Company from ROC Records)Note: Bank Account of the Company should be closed.Forms to be filed:The Application has to be made in Form STK-2 with ROC.Procedure to be followed by the Company:-Hold a Board Meeting-Extinguishment (Pay off) of all the Liabilities-Hold a General Meeting and Pass a Special Resolution (75% of the Members should approve)Documents required for Filing Form STK-2:·An Indemnity Bond duly notarized by every director in Form STK-3 (One Indemnity Bond jointly signed by all the directors on the Stamp Paper of Rs. 500/- will suffice)·A statement of accounts containing assets and liabilities of the company made up for a day, not more than 30 days before the date of application and certified by a Chartered Accountant·An affidavit duly notarized by every director in Form STK-4 (Separate Affidavits signed by the respective directors on the Stamp Paper of Rs. 100/-)·CTC of Board Resolution authorizing the filing of this application·CTC of Special Resolution duly signed by each Director·Proof of Identity and Proof of Address of each Director Duly Certified by a Practicing Professional·In the case of a Company regulated by any other authority, approval of such authority shall also be required·A statement with respect to any pending litigations involving the CompanyOther Points:It is necessary to complete ALL annual filings before making an application for strike off.Hope this helps!

Dear,Shutting down a company is a challenging process. However, if you are the owner of an incorporated business in the form of a Private Limited Company, then it is even more so. A Pvt. Ltd. Co. can be shut down in several manners depending upon the requirements of the business owner –•Sell the company (if possible);•Declare the company ‘defunct’ and shut it down; or•‘Wind up’ and dissolve the company.>>>>>>Defunct Company<<<<<<The sections that deal with the closure of companies under the Companies Act 2013 have not yet been notified; hence Section 560, of the Companies Act, 1956, deals with a strike off provisions of a defunct company. Any defunct company who wants to strike off its name from the register of Registrar of Company can apply via Form FTE for strike off of its name from the register maintained by ROC. A private limited company may be declared defunct and shut down by petitioning the Registrar of Companies.This may be done in the following manner –Board Meeting – Two Directors of the company must sign a resolution that resolves to apply to the ROC for the declaration of the company as defunct.Affidavit – Two directors of the company must then submit a notarized affidavit which has also been signed by the 2 Directors verifying that the company did business for a period up to date, and has since then discontinued its operations, and has no assets or liabilities.Indemnity Bond – A notarized indemnity bond, duly signed by two Directors, which states that in the case of any liabilities on the company, such liabilities will be met fully by the applicants, even after the name of the company is struck off the register of companies must be submitted.Accounting Information – The financial statement of the Company for the most recent year, prepared up to a period which ended one month before the date of application, must be filed by the Company. The statement of accounts submitted must provide a true and fair view of the company’s financial position, and to verify the same, a declaration stating this shall be submitted by a practicing Chartered Accountant.Financial Statement – At least one year from the date of incorporation must have passed before the company petitions the ROC for declaring it as defunct. Audited financial statements for the period in which business has been undertaken must be submitted along with the application. In case any unsecured loans are there, then a waiver letter for the same must be submitted.If the ROC is satisfied with the application given current laws, then it will strike the name of the company and declare it as defunct. Following the same, a notice in this regard will be published in the official gazette by ROC. Bear in mind that the approval of form FTE will take at least one month from the date of filing to be approved.>>>>>>Winding up the Company<<<<<<As per section 270 of the Companies Act 2013, winding up of a company may be either –(a) By the Tribunal (also known as compulsory winding up); or(b) Voluntary winding upVoluntary winding up may be –Member’s Voluntary winding up.Creditor’s Voluntary winding up.Whereas Compulsory winding up may be, in addition to the aforementioned –Any contributor or contributorsBy the central or state govt.By the registrar of any person authorized by central govt. for that purpose.In the case of voluntary winding up, the process is undertaken without court supervision.Procedure for Voluntary Winding Up –Board Meeting with 2 Directors is conducted and a resolution consisting of a declaration given by directors that they are of the opinion that the company is under no debt or that it will be able to pay off its debt from the proceeds from the sale of its assets is passed.General Meeting is conducted after issuing due notice for proposing the resolution along with the explanatory statement. In the case of ordinary majority an Ordinary resolution, or a special resolution in case of the 3/4th majority, for the purpose of winding up is passed in the General Meeting. The winding up will start from the date of passing of the resolution.Creditors Meeting is conducted after passing the resolution and if majority creditors are of the opinion that winding up of the company is beneficial for all parties then the company can be wound up voluntarily.Liquidators Account is prepared after winding up of affairs of the company, and the same is audited as well.After hearing the petition for winding up of the company, the tribunal has the power to dismiss it or to make an interim order as it finds appropriate, or it can choose to appoint the provisional liquidator of the company till the passing of winding up the order.THANKS