Short Summary:
In this flash editorial author discusses the provisions of liability of directors after strike off of Company or winding up of Company by tribunal after Struck off in the record of Registrar of Companies.
Legal Provision:
Companies Act, 2013-
Liability of Directors & Members: Section 248(7) – The Liability, if any, of every Director, Manager or other officer who was exercising any power of management, and of Every Member of the company dissolved under sub-section (5), shall continue and may be enforced as if the company had not been dissolved.
Undertaking by Managing Director, Director or other person in charge of the management of the Company: – Section 248(6) – In respect of realization of all amount due to the company and for the payment or discharge of its liabilities and obligations by the company
Tribunal Power: Section 248(8) –Nothing in this section shall affect the power of the Tribunal to wind up a company the name of which has been struck off from the register of Companies.
Effect of company notified as dissolved: Section 250 – After strike off u/s 248 share certificate shall be cancelled from such date except for the purpose of realizing the amount due to the company and for the payment or discharge of the liabilities or obligations of the company.
LIABILITY OF COMPANY – AFTER STRIKE OFF
Before conversation on the liability of directors, we should be aware of that Strike off of Company doesn’t mean dissolution of Company. As specifically mentioned in Section 250 that;
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
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