559. Power of [Tribunal] to declare dissolution of company void
(1)Where a company has been dissolved, whether in pursuance of this Part or of section 394 or otherwise, the [Tribunal] [ Substituted by Act 11 of 2003, Section 114, for " Court" .] may at any time within two years of the date of the dissolution, on application by the Liquidator of the company or by any other person who appears to the [Tribunal] [ Substituted by Act 11 of 2003, Section 114, for " Court" .] to be interested, make an order, upon such terms as the [Tribunal] [ Substituted by Act 11 of 2003, Section 114, for " Court" .] thinks fit, declaring the dissolution to have been void; and thereupon such proceedings may be taken as might have been taken if the company had not been dissolved.(2)It shall be the duty of the person on whose application the order was made, within [thirty] [ Substituted by Act 31 of 1965, Section 62 and Schedule, for " twenty-one" (w.e.f. 15.10.1965).] days after the making of the order or such further time as the [Tribunal] [ Substituted by Act 11 of 2003, Section 114, for " Court" .] may allow, to file a certified copy of the order with the Registrar who shall register the same; and if such person fails so to do, he shall be punishable with fine which may extend to [five hundred rupees] [ Substituted by Act 53 of 2000, Section 211, for " fifty rupees" (w.e.f. 13.12.2000).] for every day during which the default continues.
