TMI Blog2018 (3) TMI 560X X X X Extracts X X X X X X X X Extracts X X X X ..... es and make the necessary application under the CODS - 2018, the impugned list of the disqualified directors, in as much as it includes the names of the directors, is stayed till 31.03.2018 or up till such time as the respondents take a final decision in the matter. This order has been passed with due assistance of the learned ASG, in the peculiar facts and circumstances of these cases. It is clarified that if the petitioners do not avail of the CODS-2018 or file the necessary documents as required for dissolution for the Company under Section 248(2) as stated above; in addition to other consequences, the petitioners would also be liable to be prosecuted for contempt of Court. It is further clarified that the aforesaid order is made o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lay Scheme -2018 (hereafter CODS - 2018‟). However, since the Company has been struck off from the Register of Companies, they have been disabled from availing the benefits of CODS - 2018. 4. The petitioners are also not in a position to seek revival of the company by filing an appeal under Section 252 of the Act, since admittedly the Company has not carried out any business and was liable to be struck off from the Register. The petitioners state that, in fact, they would voluntarily seek dissolution of the Company under Section 248(2) of the Act, if they have the opportunity to do so. 5. This Court is of the view that since, admittedly, the Company is not carrying out any business and its bank account has not been operated for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... een passed with due assistance of the learned ASG, in the peculiar facts and circumstances of these cases. 9. It is clarified that if the petitioners do not avail of the CODS-2018 or file the necessary documents as required for dissolution for the Company under Section 248(2) of the Act as stated above; in addition to other consequences, the petitioners would also be liable to be prosecuted for contempt of Court. 10. It is further clarified that the aforesaid order is made on the basis of the unequivocal statements made on behalf of the petitioners above and in the event the statements are found to be incorrect, the petitioners would be liable to be proceeded against contempt of court in addition to being subjected to other proceeding ..... X X X X Extracts X X X X X X X X Extracts X X X X
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