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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Clause 251: Fraudulent Company Name Removal Leads to Joint Liability and Possible Fraud Charges Under Section 447.</h1> Clause 251 of the Companies Bill, 2011, addresses fraudulent applications for the removal of a company's name from the register. If it is determined that a company applied for removal to evade liabilities, deceive creditors, or defraud others, those managing the company are jointly and severally liable for any resultant losses or damages. They may also face fraud charges as outlined in section 447. Additionally, the Registrar can recommend prosecuting those responsible for such fraudulent applications.
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