The news of over 2 lakh directors being barred from the board and suspension of directorship for 5 years has created a turmoil in the Startup and SMEs segment. Yesterday we at Wazzeer had covered an exclusive blog on what really happened. We received requests from 20+ founders asking ‘How to restore companies that have been stricken off?’. This blog is for you guys, talks about the procedure for restoration of companies’ name dissolved under section 248 of the Companies Act, 2013.
1. Which is the concerned authority for restoration of companies dissolved under section 248 of the Act?
A company dissolved under section 248 can be restored on the Register of Companies by National Company Law Tribunal (“Tribunal”) order.
2.Who can apply?
The Company, Member or Creditor, Workmen.
3. Is there any time limit for making an application for restoration?
Such an application must be made before the expiry of 20 years from the publication in the Official Gazette of the notice of the striking-off.
4. What is the procedure for making application to the Tribunal under section 252 of the Act?
Remarks, if any
Application to the Tribunal under Section 252 (3) of the Act
Form No. NCLT-9
Filing of application to the concerned Registrar of Companies
Documents required to be attached with NCLT-9:
Hearing at the Tribunal and Tribunal may pass order for restoring the name of the company in the Register of Companies
A copy of the order passed by the Tribunal shall be filed by the company with the Registrar
File Form INC-28 within 30 days from the date of order.
Publication of order in official Gazette by ROC.