Security deposit related question
2 months ago
I had a pvt ltd company who was a broking member of MCX. Had paid a security deposit under company name. Company has since been striked off and closed. Security deposit is not being returned and stated that only in the company's bank account can the deposit be refunded. Is there any way to bypass this or any workarounds.
TYA
A.Dear Client,
To initiate the strike-off process, companies must submit an application to the Registrar of Companies (ROC) along with specific documents, including a notarized Indemnity Bond, a statement of liabilities certified by a Chartered Accountant, an affidavit (Form STK 4) from all directors, a copy of the Special Resolution signed by every director, and details about any pending litigations.
Companies are ineligible for strike-off if, in the last three months, they made property or rights disposals, engaged in activities beyond the strike-off application, applied for compromise or arrangement without consensus, or underwent winding-up under Chapter XX or the Insolvency and Bankruptcy Code (IBC), 2016.
Upon confirming dissolution, a company ceases operations, and its Certificate of Incorporation is considered canceled. However, existing liabilities must be settled before the directors receive a refund of their security deposit.
To initiate the strike-off process, companies must submit an application to the Registrar of Companies (ROC) along with specific documents, including a notarized Indemnity Bond, a statement of liabilities certified by a Chartered Accountant, an affidavit (Form STK 4) from all directors, a copy of the Special Resolution signed by every director, and details about any pending litigations.
Companies are ineligible for strike-off if, in the last three months, they made property or rights disposals, engaged in activities beyond the strike-off application, applied for compromise or arrangement without consensus, or underwent winding-up under Chapter XX or the Insolvency and Bankruptcy Code (IBC), 2016.
Upon confirming dissolution, a company ceases operations, and its Certificate of Incorporation is considered canceled. However, existing liabilities must be settled before the directors receive a refund of their security deposit.
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A.Dear Client,
Companies in the pursuit of strike-off must file an application to the Registrar of Companies (ROC), accompanied by the following documents: Indemnity Bond duly notarized by all directors (in Form STK 3). A statement of liabilities comprising all assets and liabilities of the companies (certified by a Chartered Accountant). An affidavit in Form STK 4 (by all directors of the company). CTC of Special Resolution (duly signed by every director of the company). A statement concerning any pending litigations with respect to the company. Companies are restricted from filing applications for strike-off if, at any time during the last three months, they have made a disposal for the value of property or rights held by it (subject to conditions). Engaged in any other activity other than what is necessary or expedient for making an application under the concerned provision, and so and so forth. Filed an application to the Tribunal for the granting of Compromise or Arrangement, and a consensus for the same hasn’t yet been arrived at. Been wound up under Chapter XX, whether voluntarily, by the Tribunal or under the Insolvency and Bankruptcy Code (IBC), 2016. If a company confirms its dissolvement, it shall cease its operations as a company from the date of such dissolvement, and the Certificate of Incorporation issued to it by the ROC shall be deemed to have been cancelled, except for the discharge of any existing liabilities or obligations. So, until and unless a company meets its loans and other financial liabilities lying in the market, a security deposit is not refunded to the directors of the Company.
Companies in the pursuit of strike-off must file an application to the Registrar of Companies (ROC), accompanied by the following documents: Indemnity Bond duly notarized by all directors (in Form STK 3). A statement of liabilities comprising all assets and liabilities of the companies (certified by a Chartered Accountant). An affidavit in Form STK 4 (by all directors of the company). CTC of Special Resolution (duly signed by every director of the company). A statement concerning any pending litigations with respect to the company. Companies are restricted from filing applications for strike-off if, at any time during the last three months, they have made a disposal for the value of property or rights held by it (subject to conditions). Engaged in any other activity other than what is necessary or expedient for making an application under the concerned provision, and so and so forth. Filed an application to the Tribunal for the granting of Compromise or Arrangement, and a consensus for the same hasn’t yet been arrived at. Been wound up under Chapter XX, whether voluntarily, by the Tribunal or under the Insolvency and Bankruptcy Code (IBC), 2016. If a company confirms its dissolvement, it shall cease its operations as a company from the date of such dissolvement, and the Certificate of Incorporation issued to it by the ROC shall be deemed to have been cancelled, except for the discharge of any existing liabilities or obligations. So, until and unless a company meets its loans and other financial liabilities lying in the market, a security deposit is not refunded to the directors of the Company.
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