In accordance with Section 555 of the Companies Act, individuals dissatisfied with the Registrar’s decision to strike off their company have the option to petition the Court for the reinstatement of the company’s name within a seven-year period following the striking off. Engaging a lawyer to efficiently handle the process of reinstating the company on your behalf is recommended, given that it will involve a significant number of intricate paperworks associated with the company reinstate proceedings.
If the Court determines that, at the time of striking off, the company was actively conducting business or was in operation, or if it deems it just to reinstate the company’s name in the register, the Court may issue the following orders:
- The formal reinstatement of the company’s name, emphasizing the importance of a successful company reinstate process.
- The issuance of appropriate directions and provisions to meticulously restore the company and all other involved parties to a position as closely resembling their status as if the company’s name had never been struck off, highlighting the comprehensive nature of the company reinstate efforts.
Once an official copy of the court order is submitted to the Registrar, the company will be regarded as having continued its existence as if its name had not been struck off, signifying that your company has been successfully reinstated through the legal company reinstate procedure.
In certain cases, company owners purposely let their company go dormant, leading to it being struck off by SSM Malaysia. Further down the road, when, for example, there is an asset under the company that needs to be transacted, you will need to engage lawyers to navigate the legal procedures required to reinstate your company before proceeding with the transaction, underscoring the significance of proper legal counsel in the company reinstate process.
