• Notification Date: 31-01-2022
• Notification No: N/A

Over 6,000 Companies in Telangana have been struck off by ROC

The Registrar of Companies (ROC) of Hyderabad has cancelled 6,292 companies in Telangana. The companies which have been struck off for failing to file the annual returns and balance sheets for the last two years which is compulsory for every company. Alongside, 15,000 directors have been disqualified since the companies they have been representing have failed to file their returns to the Registrar of Companies of MCA for the past three years.

These companies were issued notices in the past by the ROC and had been asked to file their returns. A deadline of one month was provided to them.

The companies which are floated by the central and state governments have been spared by the ROC from the cancellation. ROC also left out the Non-Banking Finance Companies (NBFC) and the Nidhi companies from striking off.

According to the statement of one of the officials of the Ministry of Corporate Affairs (MCA), many directors are completely oblivious of the fact that they are required to file annual returns and balance sheets with the Registrar of Companies. They had an idea that it is sufficient to file the income tax returns and the GST returns. Another reason for not filing the annual returns was that the companies were unable to conduct business due to the lack of sufficient funds from external sources.

Another 5,000 companies will also receive notices from the ROC due to the failure of filing annual returns and the commencement of operations.

An official of the Ministry of Corporate Affairs has stated that a declaration file has to be filed in Form INC-20A. The declaration has to be made within 180 days of the incorporation of the company concerning the business commencement of the company. Around 5,000 startup companies in Telangana failed to file this.