https://www.taxtmi.com/article/detailed?id=6023 Section 248 authorises the Registrar to strike a company's name for failure to commence business, nonpayment of subscribers' undertakings, or inactivity for two financial years; Section 248(2) allows voluntary company applications subject to extinguishing liabilities and member approval, while Section 249 imposes three month restrictions on such applications. The Registrar must issue notice, permit representations, ensure provision for liabilities, obtain undertakings if necessary, and publish the striking in the Official Gazette, triggering dissolution; Section 250 preserves asset realization and liability discharge. Tribunal powers, appeal and restoration procedures under Section 252, and penalties for fraudulent or evasive applications by management are provided. en-us Wed, 21 Jan 2015 08:13:44 +0530 Wed, 21 Jan 2015 08:13:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=6023 Section 248 authorises the Registrar to strike a company's name for failure to commence business, nonpayment of subscribers' undertakings, or inactivity for two financial years; Section 248(2) allows voluntary company applications subject to extinguishing liabilities and member approval, while Section 249 imposes three month restrictions on such applications. The Registrar must issue notice, permit representations, ensure provision for liabilities, obtain undertakings if necessary, and publish the striking in the Official Gazette, triggering dissolution; Section 250 preserves asset realization and liability discharge. Tribunal powers, appeal and restoration procedures under Section 252, and penalties for fraudulent or evasive applications by management are provided. Articles Corporate Laws / IBC / SEBI Wed, 21 Jan 2015 08:13:44 +0530 https://www.taxtmi.com/article/detailed?id=6023