Section 355 of the Companies Act, 2013
Section 355 of the Companies Act, 2013 is titled:
"Court or Tribunal to declare dissolution of company void"
However, this section has not yet been notified (as of the latest update), and its provisions are not in force.
Text of Section 355 (Unnotified)
“Where a company has been dissolved, whether under this Chapter or otherwise, the Tribunal may at any time within two years of the date of the dissolution, on application by the Company Liquidator of the company or by any other person who appears to the Tribunal to be interested, make an order, upon such terms as the Tribunal thinks fit, declaring the dissolution to be void; and thereupon such proceedings may be taken as might have been taken if the company had not been dissolved.”
A copy of the order shall, within thirty days from the date thereof, be filed by the company Liquidator or the person at whose instance the order was made, with the Registrar in Form INC-28 who shall register the same.
Purpose of Section 355
Section 355 allows the revival of a company that has been dissolved, if the Tribunal is satisfied there is just cause. This can be useful in situations such as:
Discovery of undistributed assets.
Pending legal proceedings.
Mistaken or fraudulent dissolution.
Key Points:
Application must be made within two years of dissolution.
Tribunal has discretionary power.
The order must be filed with the Registrar of Companies.
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