Question
What is the outcome for a company following its dissolution under section 248?
Solution
Companies Act Section 250. Effect of company notified as dissolved: Where a company stands dissolved under section 248, it shall on and from the date mentioned in the notice under sub-section (5) of that section cease to operate as a company and the Certificate of Incorporation issued to it shall be deemed to have been cancelled from such date except for the purpose of realising the amount due to the company and for the payment or discharge of the liabilities or obligations of the company.
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