A petition under Sections 241-242 of the Companies Act, 2013 cannot be maintained against a Company which has been struck-off by the RoC and dissolved under Section 248(5) of the Companies Act, 2013 – Simplex TMC Pvt. Ltd. and Ors. Vs. Simplex Naigai Castings Pvt. Ltd. and Ors. – NCLT Bengaluru Bench
Hon’ble NCLT Bengaluru Bench held that:
(i) Filing of a petition for Oppression and Mismanagement under Sections 241-242 of the Companies Act, 2013 cannot be considered to be covered by the exceptions provided under Section 250 of the Companies Act, 2013.
(ii) The Judgments related to application under the Insolvency and Bankruptcy Code, 2016 being maintainable even for struck-off Company are not relevant; since here it is not a Petition u/s IBC, 2016, but under the provisions of Sections 241 and 242 of the Companies Act, 2013.
(iii) A Petition u/s 241 and 242 of the Companies Act, 2013 cannot be maintained against a Company which has been struck-off by the ROC and dissolved u/s 248(5) of the Companies Act, 2013; since there is no legal existence of such a Company.