#Company Restoration

The NCLAT ruled that a company struck off but still possessing assets cannot be merely dissolved; it must be restored and then wound up under the Companies Act. This clarifies that restoration claims require a winding-up proceeding, affecting shareholders and creditors of dormant firms.

NCLAT rules that mere delay in filing a restoration application under Section 252 of the Companies Act, 2013, cannot be grounds for rejection if the company was operational at the time of striking off. The tribunal emphasizes merit-based evaluation of documents over procedural lapses, setting a precedent for shareholders seeking revival of struck-off companies.