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CS Professional · Corporate Restructuring, Valuation and Insolvency · Strike Off and Restoration of Name of the Company and LLP

Kaveri Agro Ltd was struck off and the notice under section 248(5) was published in the Official Gazette on 10 March 2010. A creditor, Mr. Nair, applies to the Tribunal in 2026 under section 252(3), claiming the company was carrying on business when struck off. Which statement is correct?

The application is within time. Under section 252(3), the company, a member, creditor or workman may apply before twenty years expire from gazette publication of the section 248(5) notice. A 2010 publication and a 2026 application fall within that period, and a creditor is an eligible applicant.

  1. AThe application is within time because the limit is twenty years from gazette publication of the noticeCorrect
  2. BThe application is barred because the limit is three years from the Registrar's order
  3. CThe application is barred because only a member can apply under sub-section (3)
  4. DThe application is within time only if the Registrar consents

Explanation

Section 252(3) lets the company, any member, creditor or workman apply before expiry of twenty years from publication of the notice under section 248(5). Publication was 2010, so 2026 is within twenty years. A creditor is expressly eligible. The three-year limit applies to appeals under sub-section (1), and no Registrar consent is required.

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