Determination of sickness. Omitted] Amendment (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

Power of Registrar to Remove Name of Company from Register of Companies (1) Where the Registrar has reasonable cause to believe that— (a) a company has failed to commence its business within one year of its incorporation; 1[or] 2[Omitted]. (c) a company is not carrying on any business or operation for a period of two immediately preceding financial years and has not made any

Valuation by registered valuers (1) Where a valuation is required to be made in respect of any property, stocks, shares, debentures, securities or goodwill or any other assets (herein referred to as the assets) or net worth of a company or its liabilities under the provision of this Act, it shall be valued by 1[a person having such qualifications and experience and registered

Application of Certain Provisions to Proceedings Under Section 241 and Section 245. The provisions of sections 337, 338, 339, 340 and 341 (both inclusive) shall apply mutatis mutandis, in relation to an application made to the Tribunal under section 241 or section 245.  

Class Action Section 245 of the Companies Act, 2013 outlines the process through which a group of members or depositors, meeting certain criteria, can approach the Tribunal if they believe that the company’s management is acting in a way that harms the company’s interests or the interests of its members or depositors. Here’s a simplified

Right to Apply Under section 241. (1) The following members of a company shall have the right to apply under section 241, namely:— (a) in the case of a company having a share capital, not less than one hundred members of the company or not less than one-tenth of the total number of its members, whichever is less, or any member or members holding not less than onetenth of the issued