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

The name of Tulsi Textiles Ltd was struck off under section 248 and published in the Official Gazette. Eighteen years later, Anil, a workman who was owed wages, applies to the Tribunal for restoration, showing the company was carrying on business when struck off. Which statement is correct under section 252?

The application is maintainable. Section 252(3) allows a company, member, creditor or workman to apply within twenty years of the Gazette notice. The Tribunal may restore the name if the company was carrying on business when struck off or it is otherwise just. The three-year limit applies to a different route.

  1. AThe application is barred because the three-year appeal period has expired
  2. BThe application is maintainable, because section 252(3) allows a workman to apply within twenty years of the Gazette notice, and the Tribunal may restore if the company was then carrying on business or it is justCorrect
  3. CThe application is maintainable only if the Registrar files it
  4. DOnly a member of the company, and not a workman, can apply after three years

Explanation

Section 252(3) allows the company, any member, creditor or workman to apply before twenty years from publication of the notice under section 248(5). The Tribunal may restore if the company was carrying on business or operating when struck off, or if restoration is otherwise just. The three-year limit is in section 252(1) and does not bar this route.

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