Strike off – govt. company

MCA has vide its notification dated 29th June, 2020 amended the Companies (Removal of Names of Companies from the Register of Companies) Rules, 2016 thereby paving the way for strike off of government companies. Therefore any government company in which 100% of the share capital is held by the central government or state government or by both of them together or any subsidiary of a government company as above, can go for strike off of their names from the register of companies, which is basically an exit route for government companies who are not doing any business for the past two years and where the assets & liabilities are Nil. The indemnity bond has to be signed by an officer not below the rank of Under Secretary or its equivalent post in the government of India bureacracy.

Copy of MCA circular can be found here

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