Do the Court may declare the Dissolution of a Company void in Certain cases?

Winding up of a corporation leads to dissolution of the com­pany. When the Court is of judgment that the liquidator cannot proceed with the winding up for want of funds or assets or for any other reason whatsoever, and that it is just and reasonable in the circumstances of the case that an order for the dissolution of the company be made, the Court may make an order that the company be dissolved from the date of the order, and the company is accordingly dissolved. A copy of this order has to be forwarded by the liquidator to the Registrar within 30 days and the Registrar is required to record it in his books.

Do the Court may also declare the Dissolution of a Company void in Certain cases?

Yes, the Court may at any time within two years of the date of the dissolution, make an order, on the application of the liquidator or of any other person interested and upon such terms as it thinks fit, declaring the dissolution to have been void. The person who obtains the order avoiding the dissolu­tion must file a certified copy thereof with the Registrar within 30 days or such further time as the Court may allow. In case of default, he will be punishable with fine to the extent of Rs. 500 for every day during which the default continues.