July 2023

Order of Tribunal Omitted] Amendment 1. (a) Omitted by Insolvency and Bankruptcy Code, 2016., Dated 15th November, 2016. (b) The MCA Notification No. F.O. 3453(E) Dated 15th November, 2016, enforcing the related sections of Insolvency and Bankruptcy Code, 2016 Original Omitted Content– 258. Order of Tribunal. On the date of hearing fixed by the Tribunal and on consideration of […]

Committee of Creditors Omitted] Amendment 1(a) Omitted by Insolvency and Bankruptcy Code, 2016., Dated 15th November, 2016. (b) The MCA Notification No. F.O. 3453(E) Dated 15th November, 2016, enforcing the related sections of Insolvency and Bankruptcy Code, 2016 Original Omitted Content– 257. Committee of Creditors (1) The interim administrator shall appoint a committee of creditors with such

Appointment of Interim Administrator Omitted] Amendment 1. (a) Omitted by Insolvency and Bankruptcy Code, 2016., Dated 15th November, 2016. (b) The MCA Notification No. F.O. 3453(E) Dated 15th November, 2016, enforcing the related sections of Insolvency and Bankruptcy Code, 2016 Original Omitted Content– 256.Appointment of Interim Administrator. (1)On the receipt of an application under section 254, the Tribunal shall,

Exclusion of certain time in computing period of limitation 1[Omitted] Amendment 1. (a) Omitted by Insolvency and Bankruptcy Code, 2016., Dated 15th November, 2016. – [255. Notwithstanding anything contained in the Limitation Act, 1963 or in any other law for the time being in force, in computing the period of limitation specified for any suit or application in

Application for Revival and Rehabilitation Omitted] Amendment 1. (a) Omitted by Insolvency and Bankruptcy Code, 2016., Dated 15th November, 2016. (b) The MCA Notification No. F.O. 3453(E) Dated 15th November, 2016 enforcing the related sections of Insolvency and Bankruptcy Code, 2016 Original Omitted Content– 254. Application for Revival and Rehabilitation. (1) On the determination of a company as a sick company by

Determination of sickness. Omitted] Amendment 1. (a) Omitted by Insolvency and Bankruptcy Code, 2016., Dated 15th November, 2016. (b) The MCA Notification No. F.O. 3453(E) Dated 15th November, 2016 enforcing the related sections of Insolvency and Bankruptcy Code, 2016 Original Omitted Content– 253. Determination of Sickness. (1) Where on a demand by the secured creditors of a company representing fifty per cent.

Appeal to Tribunal (1) Any person aggrieved by an order of the Registrar, notifying a company as dissolved under section 248, may file an appeal to the Tribunal within a period of three years from the date of the order of the Registrar and if the Tribunal is of the opinion that the removal of the name of the company from the register of companies is not justified in

Fraudulent application for removal of name (1) Where it is found that an application by a company under sub-section (2) of section 248 has been made with the object of evading the liabilities of the company or with the intention to deceive the creditors or to defraud any other persons, the persons in charge of the management of the company shall, notwithstanding that the company has been

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

Restrictions on Making Application Under Section 248 in Certain Situations (1) An application under sub-section (2) of section 248 on behalf of a company shall not be made if, at any time in the previous three months, the company— (a) has changed its name or shifted its registered office from one State to another; (b) has made a disposal