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

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

• a duly notarised indemnity bond in Form STK-3A shall be given by an authorized 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

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

Form No. STK – 3A

Indemnity Bond

(To be drawn on Stamp Paper of appropriate value) (To be given by the Authorised Representative of the administrative Ministry/Department)

[Pursuant to the proviso to clause (i) of sub-rule (3) of rule 4 of the Companies (Removal of Names of Companies from the Register of Companies) Rules, 2016]

I, the authorized representative* of the ……………………………… (name of the administrative Ministry/Department) for the ……………………….. (mention name of the Government company), incorporated on……………………under the Companies Act, 2013 or Companies Act, 1956 having its registered office at……………………, do hereby declare that the Government of India/State (name of the State to be mentioned in case the administrative Ministry/Department belongs to a State) hereby undertakes to indemnify: -

(i) the claimants for all lawful claims against the company arising in future after the striking off the name of the company;

(ii) any person for any losses that may arise pursuant to striking off the name of the company;

(iii) the claimants for all lawful claims and liabilities, which have not come to notice up to this stage, and if any claim arises or observed even after the name of the company has been struck off in terms of section 248 of the Companies Act, 2013.

Date

Signature:

Official Seal:

Name, Father’s name, Address and Designation: