The Mumbai Bench of the National Company Law Tribunal (NCLT) has reiterated that a Corporate Insolvency Resolution Process (CIRP) cannot be initiated against a company whose name has already been struck off from the register of companies.
It observed that once the company’s certificate of incorporation is cancelled, it no longer remains a “corporate person” under the Insolvency and Bankruptcy Code.
A bench of Judicial Member Nilesh Sharma and Technical Member Sameer Kakar dismissed Adamji Investments Pvt Ltd’s application under Section 7 of the Insolvency and Bankruptcy Code seeking initiation of CIRP against M Cons Media Marketing Pvt Ltd.
“In such circumstances, this Tribunal is of the considered view that once the certificate of…