: (1) Office may revoke registration of a company in the following cases:-
(a) If the founder of the company submits an application along with the prescribed fee to cancel the registration of the company showing the reason for not being able to start the business of the company,
(b) Failure to submit the details as per section 80 for three consecutive financial years or failure to pay the fine as per section 81, or (c) Based on the evidence obtained in the course of the company's administration, if the office has reasonable grounds to believe that the company has not conducted its business or that the company is not in operation.
(2) If the registration of a company has to be canceled according to sub-section (1), the office shall notify the concerned company before canceling the open registration.
(3) When the notice is sent to the company in accordance with sub-section (2), the registered office of the company, if the address of the registered office of such company is not registered in the office or if the office of the company is not located at the registered address, to the officer of such company and if the address of such officer is not received by the office or if the address of such officer is not received by the office or is not found, every person mentioned in the company's memorandum of association The notice should be sent to the address of the founder.
(4) The notice given in accordance with sub-section (2) shall be published in the daily newspapers of the national level as required.
(5) According to sub-section (2) within two months from the date of receipt of the notification by the company, the registration of the company may be canceled if no open application is given or if the reason is not reasonable.
(6) In case of cancellation of the registration of the company according to sub-section (5), the information thereof shall be given to the relevant directors and published in the national level daily newspaper.
(7) If the registration of the company is revoked in accordance with sub-section (5), if such company has any kind of liability, the liability of the officers or shareholders of such company shall remain and nothing in this section shall be deemed to prevent the taking of necessary legal action against them to fulfill such liability.
(8) At the time of cancellation of registration according to sub-section (5), the company's noThe assets, rights, facilities or liabilities in it will be transferred to the name of its shareholders in proportion to the shares taken by them. But the property accepted by the company as a trustee of any other person will not be transferred to the rights and ownership of the shareholder.
(9) According to this section, if any debt or liability to be paid by a company whose registration has been revoked cannot be met from the assets, rights or facilities transferred to the name of the shareholder in accordance with subsection (8), the remaining debt or liability shall be involved in the management of such company in subsection (1). The shareholders, directors or officers who are responsible for the creation of the mentioned situation will have to personally bear the responsibility.
(10) A company whose registration has been revoked according to this section cannot do any business under the name of the same company.
(11) After the liquidation of a company in accordance with this section, the office shall deduct the expenses incurred in liquidation of that company and if any assets remain, only such assets shall be returned to the shareholders.