Defunct Companies – A peep into the provisions for Strike off & Restoration

Section 560 of the Companies Act, 1956 provides power to the Registrar of Companies to strike names of defunct companies off the Register of Companies. The Ministry of Corporate Affairs had notified an Easy Exit Scheme (EES) vide General Circular No.6/2010 dated 03rd December, 2011 to enable defunct companies to take advantage of an easy process to exit from Register of Companies. As corresponding provisions of the Companies Act, 2013 have not yet been brought to force, the provisions of the Companies Act, 1956 continue to be in force.

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