{"id":154,"date":"2022-04-14T10:54:30","date_gmt":"2022-04-14T10:54:30","guid":{"rendered":"https:\/\/www.microvistatech.com\/blog\/get-the-list-of-struck-off-companies\/"},"modified":"2023-06-21T09:16:48","modified_gmt":"2023-06-21T09:16:48","slug":"get-the-list-of-struck-off-companies","status":"publish","type":"post","link":"https:\/\/www.microvistatech.com\/blog\/get-the-list-of-struck-off-companies\/","title":{"rendered":"Get the list of Struck-Off companies for mandatory disclosure as per the Companies Act"},"content":{"rendered":"\r\n<p class=\"has-medium-font-size\"><strong>What is the meaning of struck-off Companies?<\/strong><\/p>\r\n\r\n\r\n\r\n<p>Struck-Off Companies means removing the name of the Company from the Register of Companies maintained by the Registrar of Companies. It is more like a Closure of the Company and cannot perform any operation thereafter. It ceases to exist as a legal entity and it cannot trade, sell its assets or make payments or even it cannot get involved in any other business activities.<\/p>\r\n\r\n\r\n\r\n<p class=\"has-medium-font-size\"><strong>Disclosure requirements of Relationship with <a href=\"https:\/\/www.microvistatech.com\/struck-off-companies\"><span class=\"has-inline-color has-vivid-cyan-blue-color\">Struck off Companies<\/span><\/a> in Schedule III as per the Companies Act<\/strong><\/p>\r\n\r\n\r\n\r\n<p>On March 24, 2021, the Ministry of Corporate Affairs (MCA) has introduced elaborative financial statement disclosure requirements effective from April 1, 2021, i.e., for financial statements prepared for FY 2021-22. One such requirement is a disclosure of transactions with companies struck off by the Registrar of Companies (\u2018RoC\u2019) under section 248 of the Act or under section 560 of the Companies Act, 1956.<\/p>\r\n\r\n\r\n\r\n<p>The following particulars are to be disclosed in such case:<\/p>\r\n\r\n\r\n\r\n<figure class=\"wp-block-table\">\r\n<table>\r\n<tbody>\r\n<tr>\r\n<td>Name of struck-off Company<\/td>\r\n<td>Nature of \u00a0transactions with struck-off Company<\/td>\r\n<td>Balance outstanding<\/td>\r\n<td>Relationship with the Struck off company, if any, to be disclosed<\/td>\r\n<\/tr>\r\n<tr>\r\n<td><strong><em>\u00a0<\/em><\/strong><\/td>\r\n<td>Investments in securities<\/td>\r\n<td><strong><em>\u00a0<\/em><\/strong><\/td>\r\n<td><strong><em>\u00a0<\/em><\/strong><\/td>\r\n<\/tr>\r\n<tr>\r\n<td><strong><em>\u00a0<\/em><\/strong><\/td>\r\n<td>Receivables<\/td>\r\n<td><strong><em>\u00a0<\/em><\/strong><\/td>\r\n<td><strong><em>\u00a0<\/em><\/strong><\/td>\r\n<\/tr>\r\n<tr>\r\n<td><strong><em>\u00a0<\/em><\/strong><\/td>\r\n<td>Payables<\/td>\r\n<td><strong><em>\u00a0<\/em><\/strong><\/td>\r\n<td><strong><em>\u00a0<\/em><\/strong><\/td>\r\n<\/tr>\r\n<tr>\r\n<td><strong><em>\u00a0<\/em><\/strong><\/td>\r\n<td>Shares held by stuck off company<\/td>\r\n<td><strong><em>\u00a0<\/em><\/strong><\/td>\r\n<td><strong><em>\u00a0<\/em><\/strong><\/td>\r\n<\/tr>\r\n<tr>\r\n<td><strong><em>\u00a0<\/em><\/strong><\/td>\r\n<td>Other outstanding balances (to be specified)<\/td>\r\n<td><strong><em>\u00a0<\/em><\/strong><\/td>\r\n<td><strong><em>\u00a0<\/em><\/strong><\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n<\/figure>\r\n\r\n\r\n\r\n<p>&nbsp;<\/p>\r\n\r\n\r\n\r\n<p class=\"has-medium-font-size\"><strong>Now what needs to be taken care of to comply requirements of the Relationship with Struck off Companies<\/strong><\/p>\r\n\r\n\r\n\r\n<p>It is important for each corporate with a vendor\/supplier group to update and monitor the \u201cStruck off company status\u201d of vendors\/suppliers before every new financial year to protect future business interests.<\/p>\r\n\r\n\r\n\r\n<p class=\"has-medium-font-size\"><span class=\"has-inline-color has-vivid-red-color\"><strong>The question is how to get the status of \u201cStruck off company\u201d?<\/strong><\/span><\/p>\r\n\r\n\r\n\r\n<p>&nbsp;<\/p>\r\n\r\n\r\n\r\n<p class=\"has-medium-font-size\"><strong>How MICR<span class=\"has-inline-color has-vivid-red-color\">O<\/span>VISTA Can Help you<\/strong><\/p>\r\n\r\n\r\n\r\n<p><a href=\"https:\/\/www.microvistatech.com\/\"><span class=\"has-inline-color has-vivid-cyan-blue-color\">Microvista Technologies<\/span><\/a> can help you identify the list of such organizations. You are required to share the vendors\u2019 GSTIN\/PAN and name. Microvista Technologies will take care of the rest. We will identify the struck-off companies, and check their status on the MCA website via CIN No. and collate the required supporting documentation.<\/p>\r\n\r\n\r\n\r\n<p>For \u201cStruck off company\u201d status, please <a href=\"https:\/\/www.microvistatech.com\/contact\"><span class=\"has-inline-color has-vivid-cyan-blue-color\">Connect with Microvista Technologies<\/span><\/a> today.<\/p>\r\n\r\n\r\n\r\n<p><strong>Call us at &#8211;\u00a0 70167-11841 \/ 983 983 0986<\/strong><\/p>\r\n\r\n\r\n\r\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" class=\"wp-image-966\" src=\"https:\/\/www.microvistatech.com\/blog\/wp-content\/uploads\/2022\/04\/logo1.png\" alt=\"\" \/><\/figure>\r\n\r\n\r\n\r\n<p>&nbsp;<\/p>\r\n","protected":false},"excerpt":{"rendered":"<p>What is the meaning of struck-off Companies? Struck-Off Companies means removing the name of the Company from the Register of Companies maintained by the Registrar of Companies. It is more like a Closure of the Company and cannot perform any operation thereafter. It ceases to exist as a legal entity and it cannot trade, sell &hellip; <a href=\"https:\/\/www.microvistatech.com\/blog\/get-the-list-of-struck-off-companies\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Get the list of Struck-Off companies for mandatory disclosure as per the Companies Act&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":155,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[41],"tags":[62,61],"class_list":["post-154","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-struck-off-and-strike-off-company","tag-struck-off-companies","tag-struck-off-company"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\r\n<title>Struck-Off Companies for Mandatory Disclosure as Per the Companies Act<\/title>\r\n<meta name=\"description\" content=\"We will help you to identify the list of struck-off companies. 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