Strike Off- CPACE (Center for Processing Accelerated Corporate Exit) as per New Rules

The Ministry of Corporate Affairs (MCA) vide its notification dated April 17, 2023 has notified new rules w.r.t Companies (Removal of Names of Companies from the Register of Companies) Amendment Rules, 2023 which shall come into force with effect from May 01, 2023 whereby all the applications for strike off the name of the company will be now made to Centre for processing Accelerated Corporate Exit (CPACE) in Form No. STK-2.

Further, we have provided you with a Comparison of the new rules vis-a-vis old rules for better understanding:

Also, in Form STK-2 following changes are incorporated as follows:

1. Form has now asked for whether notice has been received from Registrar in Form STK-1 under Section 248 (1)

o?YES?

o?NO

2. Reasons for closure of company with a drop-down option to be filled in.

3. Earlier Brief description of main business last carried out by the company was asked which is omitted now.

4. In Attachments now against Indemnity Bond option is provided with Indemnity bond by an authorized representative of administrative of Ministry/ Department in Form STK-3A.

5. Copy of Board resolution authorizing the filing of this application & Copy of special resolution passed or copies of consent obtained under sub-section (2) of section 248, as applicable is removed from the attachments.

Further, Form No. STK-6 and STK-7 are also revised and the formats of the same forms part of the notification.?

Disclaimer:?This article provides general information existing at the time of preparation and we take no responsibility to update it with the subsequent changes in the law. The article is intended as a news update and Affluence Advisory neither assumes nor accepts any responsibility for any loss arising to any person acting or refraining from acting as a result of any material contained in this article. It is recommended that professional advice be taken based on specific facts and circumstances. This article does not substitute the need to refer to the original pronouncement