In this case, since the CD defaulted to allot flats/dwelling units to the Appellants, they instituted CP(IB)-196/ND/2023 for ordering commencement of CIRP in respect of the CD, but there could be a semblance in the proceedings that the application filed under Section 7(2) of IBC, 2016 may not lie against a company which stands struck off from the Register of Companies.
Hon’ble NCLT New Delhi Bench held that since the Directors of the concerned company are in jail/judicial custody, there is no appearance on their behalf. In any case the company is an independent juristic person and in terms of the provisions of Section 250 of the Companies Act, 2013, despite its name being struck off from the Register of Companies, a company is liable to meet its liabilities and in the present case the Homebuyers who paid subscription for allotment of dwelling units to the company are unable to pursue the application filed under Section 7 of IBC, 2016 on account of the company being struck off from the Register of Companies. In the facts and circumstances, it would be just and proper to restore the Earth Towne Infrastructure Pvt. Ltd. to Register of Companies.