Skip to content

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

Orion Traders Pvt Ltd was struck off and the Section 248(5) notice was published in the Official Gazette on 1 March 2022. A creditor, Mehta & Sons, believes the company was carrying on business when struck off. As per Section 252, what is the position regarding the time limit for the creditor's application to the Tribunal for restoration?

The creditor may apply to the Tribunal before twenty years expire from the Official Gazette publication of the Section 248(5) notice, under Section 252(3). The three-year period relates to appeals by aggrieved persons against the Registrar's dissolution order under Section 252(1), not to this creditor application.

  1. AWithin three years from the date of the Registrar's order only
  2. BWithin twenty years from the publication in the Official Gazette of the notice under Section 248(5)Correct
  3. CWithin thirty days of the dissolution
  4. DNo time limit applies

Explanation

Section 252(3) lets a company, member, creditor or workman apply to the Tribunal before the expiry of twenty years from publication of the Section 248(5) notice, if the company was carrying on business or restoration is just. The three-year period applies to appeals by an aggrieved person under Section 252(1), not to this provision.

Did you get it right without looking?

One question tells you little. A timed set on Strike Off and Restoration of Name of the Company and LLP shows your real accuracy, how long you take and where you lose marks.

Practise Strike Off and Restoration of Name of the Company and LLPFree diagnostic mock

More Strike Off and Restoration of Name of the Company and LLP questions