LEGAL LEARNING – SHRI GANPATI JURISTS
📚 LEGAL LEARNING – Restoration of Company Name under Companies Act, 2013
🔸 Restoration of Company Name – Section 252(3), Companies Act, 2013
A company whose name has been struck off from the Register of Companies may seek restoration under Section 252(3) of the Companies Act, 2013. The Tribunal has the discretion to order restoration if it is shown that the company was active, operational, or carrying on business at the time of striking off, and that such restoration is just and necessary in the interest of its stakeholders. Supporting documents such as financial statements and evidence of business activity may be considered by the Tribunal. Restoration is usually ordered subject to filing all pending statutory documents and payment of prescribed fees, penalties, and costs.
🔸 Striking Off & Conditions for Restoration – Sections 248(5) & 252(3)
If a company is struck off due to failure in filing statutory returns, it may be restored upon fulfillment of conditions laid down by the Tribunal. These typically include the submission of overdue Annual Returns and Balance Sheets, payment of penalties, and publication of the restoration order. Post-restoration, the company must also comply with directions of the Registrar of Companies and fulfill banking compliance obligations.
🔸 Director Disqualification – Section 164(2)
The restoration of a company’s name does not automatically nullify the disqualification of its directors under Section 164(2). Directors must independently apply for the removal of their disqualification as per the applicable procedures even after the company has been restored.
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