1. Where a company has been dissolved, whether in pursuance of this Chapter or of section 232 or otherwise, the Tribunal may at any time within two years of the date of the dissolution, on application by the Company Liquidator of the company or by any other person who appears to the Tribunal to be interested, make an order, upon such terms as the Tribunal thinks fit, declaring the dissolution to be void, and thereupon such proceedings may be taken as if the company had not been dissolved.
2. It shall be the duty of the Company Liquidator or the person on whose application the order was made, within thirty days after the making of the order or such further time as the Tribunal may allow, to file a certified copy of the order with the Registrar who shall register the same, and if the Company Liquidator or the person fails so to do, the Company Liquidator or the person shall be punishable with fine which may extend to ten thousand rupees for every day during which the default continues.
Legal Commentary & Landmark Judgments: Section 356
Section 356 of the Companies Act, 2013 empowers the Tribunal, within two years of a company's dissolution, to declare the dissolution void upon application by the liquidator or an interested person, reviving the company's corporate personality and pending proceedings retrospectively.
Applications under Section 356 must be filed within two calendar years of the dissolution order date; the Tribunal has no inherent power to condone delay beyond this outer limit under Section 5 of the Limitation Act. The petition must substantiate newly discovered assets, unresolved third-party claims, or latent fraud that necessitated reviving the corporate shell.