9911796707
TMI Blog2022 (10) TMI 698X X X X Extracts X X X X X X X X Extracts X X X X ..... the company and; (b) for the payment or discharge of the liabilities or obligations of the company. The Corporate Debtor, cannot be considered as dissolved for the purpose of realizing its unpaid dues through the present proceedings - the present Application filed against the Struck off Company is maintainable. - IB-439/(ND)/2022 - - - Dated:- 28-9-2022 - P. S. N. Prasad , Member ( J ) And Rahul Bhatnagar , Member ( T ) For the Appellant : Arun Kathpalia ORDER Rahul Bhatnagar , Member ( T ) 1. The present application is filed by M/s. Piramal Capital and Housing Finance Ltd. under Section 7 of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as 'the Code') read with Rule 4 of the Insolvency an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... w of the provisions of Section 250 (3) read with Section 248 (7) and (8), we hold that the application under Sections 7 and 9 will be maintainable against the 'Corporate Debtor', even if the name of a 'Corporate Debtor' has been struck-off. 22. So far as, liability of the Ex-Directors or Shareholders or Officers are concerned, Section 248 (7) of the Companies Act being clear, we are not expressing specific opinion, till any order is passed by the Adjudicating Authority or demand is made by the 'Interim Resolution Professional'. 23. In view of the aforesaid provision, we hold that the Adjudicating Authority who is also the Tribunal is empowered to restore the name of the Company and all other persons in thei ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Adjudicating Authority to give such directions and make such provisions as deemed just for placing the name of the Company and all other persons in the same position nearly as may be as if the name of the Company had not been struck off from the Register of Companies. 18. As per amended Clause (94-A) of Section 2 of the Companies Act, 2013 winding up means 'winding up under this Act or liquidation under the Insolvency and Bankruptcy Code, 2016, as applicable'. Therefore, it is clear that the Company, whose name has been removed from the Register of the Companies can be liquidated under the I B Code. 19. In terms of Part II of I B Code, for the purpose of liquidation, except 'Voluntary Liquidation of Corporate Perso ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 9;Corporate Debtor', even if the name of a 'Corporate Debtor' has been struck-off. 5. With regard to maintainability of the present Application against a struck off company, it is worthwhile to refer to Section 250 of Companies Act, 2013: 250. Effect of company notified as dissolved.- Where a company stands dissolved under section 248, it shall on and from the date mentioned in the notice under sub-section (5) of that section cease to operate as a company and the Certificate of Incorporation issued to it shall be deemed to have been cancelled from such date except for the purpose of realising the amount due to the company and for the payment or discharge of the liabilities or obligations of the company. 6. Thu ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
