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Malik (Manager)     17 July 2013

Company name struck off by roc

Hi,

What are the rights of Directors in case the name of the co has been struck off by ROC due to non filing of Statutory Returns.

What happens to decisions taken via Board resolutions eg : Sale of an company asset when the co is defunct

Please advise

Thanks.



Learning

 1 Replies

Sunil S Nair (lawyer)     26 May 2014

Refer section 560 of indian companies act 1956,The liability, if any, of every director manager or other officer who was exercising any power or management, and of every member of the company, shall ,and may be enforced as if the company had not been dissolved & notwithstanding the company's dissolution, the liabilities of its Directors and Officers who exercised powers and those of its members continue, remain unaltered and enforeceable. However, the dissolution does not make any enhancement to the enforcement of the liabilities affecting the personal capacity of the persons above referred to. This fiction supports a view that the dissolution under section 560 is a state of 'suspended animation' till twenty years pass from the date of dissolution.


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