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CS Professional · Corporate Restructuring, Valuation and Insolvency · Winding-up by Tribunal under the Companies Act, 2013

On 10 March, the Tribunal ordered the dissolution of Himalaya Agro Ltd under section 302. From when is the company dissolved, and who records the dissolution in the Registrar's records?

The company stands dissolved from the date of the Tribunal's order. Within thirty days the Tribunal forwards a copy to the Registrar and directs the Company Liquidator to forward a copy, and the Registrar records a minute of dissolution in the company's register.

  1. AFrom the date the Registrar records the minute; the Registrar records it on the liquidator's request only
  2. BFrom the date of the order; the Registrar records a minute after the Tribunal forwards the order within thirty days and the liquidator is directed to forward a copyCorrect
  3. CFrom the date of the liquidator's application; the Tribunal itself records it in the register
  4. DFrom the date of publication in the Official Gazette; the Central Government records it

Explanation

Section 302(2) dissolves the company from the date of the order. Section 302(3) requires the Tribunal, within thirty days, to forward a copy to the Registrar, who records a minute, and to direct the liquidator to forward a copy as well. The option tying dissolution to recording is wrong because dissolution takes effect on the order date.

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