Struck-Off Companies

Webtel’s Struck-Off Companies Identification Solution is a specialized compliance tool designed to help businesses identify and report transactions with companies that have been struck off by the Ministry of Corporate Affairs (MCA) under Section 248 or 560 of the Companies Act, 2013. This solution simplifies the process of locating such entities and ensures accurate disclosure in financial statements, as mandated by Revised Schedule III of the Companies Act. It supports compliance, reduces manual effort, and enhances data accuracy for statutory reporting.

Features

• Automated identification of struck-off companies
• Search by CIN, company name, PAN, or GSTIN
• Sample report generation for review
• Disclosure-ready data formatting
• MCA-compliant reporting structure
• Secure and up-to-date database access
• Low-cost and time-efficient solution
• Expert support and guidance

Capabilities

• Detects and lists companies struck off by MCA
• Supports financial reporting and audit readiness
• Enables disclosure of transactions such as receivables, payables, investments, and shareholding
• Provides relationship mapping and outstanding balances
• Integrates with accounting and compliance systems
• Facilitates compliance with Revised Schedule III requirements
• Reduces manual data collection and verification efforts

Benefits

• Ensures legal and regulatory compliance
• Saves time and resources in manual identification
• Improves accuracy and transparency in financial statements
• Minimizes risk of non-disclosure penalties
• Enhances audit preparedness and internal controls
• Supports focus on core business activities
• Offers scalable and reliable compliance support