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

The Registrar issued a notice under section 248(5) of the Companies Act, 2013 and struck off Zenith Foods Pvt Ltd, which was not carrying on business, and the company stands dissolved. Eighteen months later, a trade creditor, Mr. Rao, learns of this and wishes to have the company revived. Under section 252(3), within what period from the publication of the Official Gazette notice may a creditor apply to the Tribunal for restoration?

A creditor may apply to the Tribunal under section 252(3) before twenty years expire from the Gazette publication of the section 248(5) notice. The three-year period belongs to the separate appeal route under section 252(1), so Mr. Rao's application at eighteen months is well within time.

  1. AWithin sixty days
  2. BWithin one year
  3. CWithin three years
  4. DWithin twenty yearsCorrect

Explanation

Section 252(3) allows the company, any member, creditor or workman to apply to the Tribunal before the expiry of twenty years from the publication in the Official Gazette of the notice under section 248(5). The three-year period is for a person aggrieved by the Registrar's dissolution order under section 252(1), not the creditor route under 252(3). Mr. Rao is therefore within time.

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