At least 135 companies operating in the country are set to be dissolved if three months lapse without any complaints from members of the public.
In a notice from Joyce Koech, the Registrar of Companies, several foreign companies were listed among the 135 that had filed for dissolution in the next 90 days.
Some of the companies are originally from Israel, the Netherlands, the US, and China. These companies include some that have been operating in Kenya since the 50s and have employed hundreds of Kenyans.
The companies which have applied for dissolution in different fields such as exporting and importing, travel and tourism, fashion and uniforms, technological solutions, consultancy, food production, pharmaceuticals and transportation.
Koech noted that the companies shall be totally dissolved at the end of three months if no complaints or opposition is brought forth.
"Pursuant to section 897 (3) of the Companies Act, the Registrar of Companies gives notice that the names of the companies specified hereunder shall be struck off from the Register of Companies at the expiry of three (3) months from the date of publication of this Notice and invites any person to show cause why the companies should not be struck off from the Register of Companies," read part of the notice.
Additionally, the Registrar had approved the dissolution of 33 other firms that had filed earlier on. These companies have been struck off the Register of Companies.
Notably, companies file for dissolution after a decision by the respective business directors and other shareholders. This can be due to various reasons and circumstances.
Some of the reasons include financial constraints, unfavourable business conditions, changed goals, relocation or the owners just deciding to shut down due to an array of circumstances.
"Pursuant to section 897 (4) of the Companies Act, it is notified for the information of the general public that the following companies are dissolved and their names have been struck off the Register of Companies with effect from the date of publication of this notice," reads part of the notice.
Per the Companies Act, the dissolution application must be supported by at least three-quarters of the board who must vote in person. The owners must present a written application to the Registrar.
The owners should include outstanding company returns and minutes of the special resolution of when the dissolution was agreed upon. Here's a simple process of how to dissolve a company according to the law.
