Section 559 - Power of Tribunal to declare dissolution of company void. - Companies Act, 1956

Provisions as to dissolution Power of [1] [Tribunal] to declare dissolution of company void. 559. (1) Where a company has been dissolved, whether in pursuance of this Part or of section 394 or otherwise, the 2[Tribunal] may at any time within two years of the date of the dissolution, on application by the liquidator of the company or by any other person who appears to the 2[Tribunal] to be interested, make an order, upon such terms as the 2[Tribunal] thinks fit, declaring the dissolution to have been void; and thereupon such proceedings may be taken as might have been taken if the company had not been dissolved. (2) It shall be the duty of the person on whose application the order was made, within [2] [thirty] days after the making of the order or such further time as the 2[Tribunal] may allow, to file a certified copy of the order with the Registrar who shall register the same; and if such person fails so to do, he shall be punishable with fine which may extend to [3] [five hundred rupees] for every day during which the default continues. ---------------------------------------- Notes:- [1] Substituted for "Court" by the Companies (Second Amendment) Act, 2002, w.e.f. a date yet to be notified. [2] Substituted by the Companies (Amendment) Act, 1965, Act 31 of 1965, section 62 and Schedule for "twenty-one" w.e.f. 15-10-1965. [3] Substituted for "fifty rupees" by the Companies (Amendment) Act, 2000, w.e.f. 13-12-2000.