Case Law Details
Case Name : Real Time Interactive Media (P.) Ltd V/s Metro Mumbai Infradeveloper (P.) Ltd (Bombay High Court)
Related Assessment Year :
Courts :
All High Courts Bombay High Court
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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 ...
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Author Bio
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In one of my case the co is said to be dissolved as per section 248 and it is striken by ROC , now I am of the view that the co shall handover all the assets left over to Unsecured Loan creditors along with contracts and other intangible assets and the creditors agree to absorb all the losses shown on asset side of balance sheet . Can we prepare an agreement between co or directors or shareholders to handover all the assets and contracts including intangilbe assets like franchise fees which is not expired and just stop the operation in the name of Co and the creditors shall continue to form a new entity with a new PAN and Bank Account and run the business.?