Section 356: Powers of Tribunal to declare dissolution of company void
This section is for the Tribunal to declare a company's dissolution void under certain conditions and outlines the subsequent procedures.
The section, clause by clause
What the section says
In plain terms
(1)Where a company has been dissolved, whether in pursuance of this Chapter or of section 232 or otherwise, the Tribunal may at any time within two years of the date of the dissolution, on application by the Company Liquidator of the company or by any other person who appears to the Tribunal to be interested, make an order, upon such terms as the Tribunal thinks fit, declaring the dissolution to be void, and thereupon such proceedings may be taken as if the company had not been dissolved.
The Tribunal can declare a company's dissolution void within 2 years of the dissolution date if an application is made by the Company Liquidator or anyone the Tribunal considers to be interested, and the Tribunal can set terms for this order.
(2)The Tribunal shall—
The Tribunal must send a copy of the order to the Registrar within 30 days and direct the Company Liquidator or applicant to file a certified copy with the Registrar within 30 days or a further allowed period.
(2)(a)forward a copy of the order, within thirty days from the date thereof, to the Registrar who shall record the same; and
(2)(b)direct the Company Liquidator or the person on whose application the order was made, to file a certified copy of the order, within thirty days from the date thereof such further period as allowed by the Tribunal, with the Registrar who shall record the same.]
The right-hand column is written from the section text, not quoted from it, and it has no legal force. Where the two differ, the left-hand column is the law.
Amendment notes
- 1. Subs.by Act 29 of 2020, s. 51, for sub-section (2) (w.e.f. 21-12-2020).
- 2. Subs. by Act 31 of 2016, s. 255 and the Eleventh Schedule, for section 357 (w.e.f. 15-11-2016).
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Reproduced from the official India Code print for reference. Check the current text on India Code before you rely on it, and read the section alongside its Rules. Nothing here is legal advice.