(5)At the expiry of the time mentioned in the notice referred to in sub-section (3) or (4), the Registrar may, unless cause to the contrary is previously shown by the company, strike its name off the register, and shall publish notice thereof in the Official Gazette; and on the publication in the Official Gazette of this notice, the company shall stand dissolved:Provided that-(a)the liability, if any, of every Director, [* * *] manager or other officer who was exercising any power of management, and of every member of the company, shall continue and may be enforced as if the company had not been dissolved; and(b)nothing in this sub-section shall affect the power of the [Tribunal] [ Substituted by Act 11 of 2003, Section 114, for " Court" .] to wind-up a company the name of which has been struck off the register.
