Companies (Removal of Names of Companies from the Register of Companies)Amendment Rules, 2020

MINISTRY OF CORPORATE AFFAIRS (MCA)vide Gazette IDCG-DL-E-29062020-220254 and G.S.R. 420(E) dated 29th June, 2020 has issued and published the Companies (Removal of Names of Companies from the Register of Companies) Amendment Rules, 2020f urther to amend the Companies (Removal of Names of Companies from the Register of Companies) Rules, 2016.

Key Highlights

1. Applicability: with effect from date of publication in the Official Gazette i.e. 29.06.2020.
2. Following provisions added in Rule 4 (3) (i) in the Companies (Removal of Names of Companies from the Register of Companies) Rules, 2016

Rule 4 :Application for removal of name of company

Rule 4 (3) (i) :The application in Form STK 2 shall be accompanied by -

• (i) indemnity bond duly notarised by every director in Form STK 3;

Provision Added:-

Provided that in case of a:-

• Government company in which the entire paid up share capital is held by the Central Government, or by any State Government or Governments or by the Central Government and one or more State Governments; or
• subsidiary of a Government company, referred to in clause (a), in which the entire paid up share capital is held by that Government company,

- a duly notarised indemnity bond in Form STK-3A shall be given by an authorised representative, not below the rank of Under Secretary or its equivalent, in the administrative Ministry or Department of the Government of India or the State Government, as the case may be, on behalf of the company‖.

3. Insertion in Serial No. 4 in Form STK 2, in the list of attachments

the words 'or by anauthorised representative of administrative Ministry/Department in Form No. STK - 3A' shall be inserted.

4. Form No. STK - 3A (Indemnity Bond) introduced.