On June 29, 2020, the Ministry of Corporate Affairs issued the Companies (Removal of Names of Companies from the Register of Companies) Amendment Rules, 2020 (“Amendment Rules”) to amend the Companies (Removal of Names of Companies from the Register of Companies) Rules, 2016 (“Rules”). The Amendment Rules amend rule 4(3) of the Rules that require every application for removal of the name of a company to be accompanied by an indemnity bond duly notarised by every director in Form STK 3. The Amendment Rules introduce a proviso to rule 4(3) of the Rules that provides that in the case of the following companies, 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:
Read notification here.
This update has been contributed by Adity Chaudhury (Partner) and Deeya Ray (Associate).
7A, 7th Floor, Tower C, Max House,
Okhla Industrial Area, Phase 3,
New Delhi – 110020
The rules of the Bar Council of India do not permit advocates to solicit work or advertise in any manner. This website has been created only for informational purposes and is not intended to constitute solicitation, invitation, advertisement or inducement of any sort whatsoever from us or any of our members to solicit any work in any manner. By clicking on 'Agree' below, you acknowledge and confirm the following:
a) there has been no solicitation, invitation, advertisement or inducement of any sort whatsoever from us or any of our members to solicit any work through this website;
b) you are desirous of obtaining further information about us on your own accord and for your use;
c) no information or material provided on this website is to be construed as a legal opinion and use of this website will not create any lawyer-client relationship;
d) while reasonable care has been taken in ensuring the accuracy of the contents of the website, Argus Partners shall not be responsible for the results of any actions taken on the basis of information provided in this website or for any error or omission in the website; and
e) in cases where the user has any legal issues, the user must seek independent legal advice.