Introduction to Prospect Legal

Prospect Legal is a trusted name in corporate law, offering expert guidance on restoring dissolved companies. With a team of experienced legal professionals, we specialize in navigating complex legal frameworks to reinstate businesses efficiently. Our firm ensures compliance with legal requirements and helps clients regain operational status seamlessly.

Where You Can Find Remedies?

Restoring a dissolved company involves legal proceedings that typically require intervention from:

• National Company Law Tribunal (NCLT) – Handles corporate legal matters, including restoration applications.
• Registrar of Companies (ROC) – The governing body responsible for company registration and dissolution.
• High Court (in certain cases) – Required in specific legal scenarios.

If your company has been dissolved, contact Prospect Legal for professional consultation and expert representation in the appropriate legal forums.

Understanding the Restoration Process

The process for restoring a dissolved company depends on the method of dissolution and the circumstances of the case. It can be classified into:

1. Voluntary Restoration

Initiated by directors, shareholders, or creditors who seek to restore the company for business continuity, debt recovery, or other legal obligations.

2. Compulsory Restoration

Court-mandated restoration due to wrongful dissolution, legal disputes, or creditor petitions.

Legal Protection Under Companies Act, 2013

Section 252: When Can a Claim Be Filed?

• A claim for restoration can be filed within three years from the date of dissolution.
• Interested parties, including former directors, shareholders, and creditors, can initiate the process.
• Grounds for restoration include improper dissolution, unresolved liabilities, or business continuation needs.

Powers of the Adjudicating Authority

• The NCLT or relevant judicial body has the authority to:
  • Reinstate the company’s legal status.
  • Order rectification of records.
  • Impose compliance measures to prevent future legal issues.

Process of Remedy Through Prospect Legal

Step 1: Initial Consultation & Risk Assessment

• Case Evaluation – Assess the grounds for restoration.
• Legal Feasibility Study – Determine the best legal approach.
• Risk Analysis – Identify potential complications and compliance requirements.

Step 2: Legal Documentation & Filing

• Application Preparation – Draft petitions and legal submissions.
• Supporting Documents Compilation – Gather financial records, dissolution notices, and statutory declarations.
• Submission to Authorities – File the application with NCLT or ROC, ensuring compliance with procedural guidelines.

Step 3: Compliance & Negotiations

• Regulatory Compliance – Address objections raised by authorities.
• Liaison with Government Bodies – Communicate with ROC and NCLT for smoother processing.
• Negotiation with Creditors & Stakeholders – Resolve outstanding claims and liabilities.

Step 4: Resolution & Final Actions

• Court Hearing Representation – Advocate for the client before adjudicating authorities.
• Official Restoration Order – Obtain a formal order reinstating the company.
• Post-Restoration Compliance – Guide clients on statutory filings and operational resumption.