valid as on 13/11/2018

Section 251. Fraudulent application for removal of name
Effective from 26.12.2016

(1) Where it is found that an application by a  under sub-section (2) of section 248 has been made with the object of evading the liabilities of the company or with the intention to deceive the creditors or to defraud any other persons, the persons in charge of the management of the company shall, notwithstanding that the company has been notified as dissolved—

(a) be jointly and severally liable to any person or persons who had incurred loss or damage as a result of the company being notified as dissolved; and

(b) be punishable for fraud in the manner as provided in section 447.

(2) Without prejudice to the provisions contained in sub-section (1), the may also recommend prosecution of the persons responsible for the filing of an application under sub-section (2) of section 248.

Company means a company incorporated under this Act or under any previous company law
2(75) Registrar means a Registrar, an Additional Registrar, a Joint Registrar, a Deputy Registrar or an Assistant Registrar, having the duty of registering companies and discharging various functions under this Act

Enforcement Notification [S.O 4167 (E)] dated 26/01/2016

 

 


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