No appeal but only an application lies under Section 252(3) of the Companies Act, 2013 | Provisions of Section 252(1) and Section 252(3) are distinct and mutually exclusive and operate under different set of circumstances | Merely holding a property for years together does not constitute ‘business’ – Mr. Tahir Vasanali Isani Vs. Registrar of Companies, Goa, Daman & Diu – NCLT Mumbai Bench
In this important decision, Hon’ble NCLT Mumbai Bench covers followings issues:
A. Interpretation of Section 248 and Section 252 of the Companies Act, 2013.
B. Present application filed under Section 252(3) of the Companies Act, 2013.
C. Quoting a wrong provision of law is not fatal to the appeal.
D. Period of Limitation for filing appeal/ application.
E. Merely holding a property for years together does not constitute ‘business’.