We Have an Old Private Company With Valuable Property but the Company Was Struck Off — What Now?

Confirm the company really was struck off

Search the CIN and current status on the MCA portal. Obtain the ROC strike-off notice and the Official Gazette publication date. Determine whether the name was removed under Section 248, whether the company was wound up by another route, or whether it has already been restored. These distinctions affect the remedy and timing.

• Collect the certificate of incorporation, memorandum and articles, director and shareholder records and last filed annual returns.
• Download available ROC notices, strike-off order and public documents.
• Check whether any NCLT appeal, restoration application or other legal proceeding is already pending.
• List the company’s assets, creditors, banks, tax registrations and liabilities at strike-off and now.

MCA master data alone is an initial check; reconcile it with the underlying filings. CompanyJi’s annual compliance service can help organize the historical corporate record.

Prove title, value and possession of the property

Obtain the registered purchase deed or conveyance, earlier chain of title, current land or municipal record, encumbrance search, tax receipts, lease and possession documents. Verify that the owner named in the title is the struck-off company, rather than a promoter or another group entity.

• Identify mortgages, charges, litigation, tenancy rights, government restrictions and pending dues.
• Compare the property description, survey number and boundaries across deeds, revenue records and maps.
• Gather valuation evidence and the latest property-tax and maintenance records.
• Preserve access and insurance arrangements, and document who presently occupies or manages the asset.

Tax bills paid by a director do not by themselves transfer ownership. A local property lawyer should assess title before any sale plan. See CompanyJi’s due diligence checklist for a broader review method.

What does strike-off do to the company and its asset?

Section 250 says a company dissolved under Section 248 ceases to operate as a company and its certificate of incorporation is deemed cancelled, except for realising amounts due and paying or discharging liabilities or obligations. Section 248 also preserves access to assets for the payment or discharge of liabilities after removal of the company’s name.

Strike-off is not a clean transfer of the property to the shareholders. Creditors, tax authorities, secured lenders and persons with property claims may still need to be dealt with.

Who can seek NCLT restoration under Section 252?

Under Section 252(3), the company or a member, creditor or workman aggrieved by the strike-off may apply to the NCLT before the expiry of 20 years from publication of the Section 248(5) notice in the Official Gazette. The Tribunal may restore the name if the company was carrying on business or in operation when struck off, or if it is otherwise just to restore it.

• Identify the applicant and assemble documents showing standing and the connection to the company.
• State why restoration is just, with proof of the company’s property, rights, liabilities and intended lawful steps.
• Calculate the statutory period from the Gazette notice, not an assumed date on a property record.
• Distinguish this route from the Section 252(1) appeal by a person aggrieved by an ROC order, which has a different three-year timeline.

The presence of valuable property may support a restoration case but does not make an order automatic. Ask counsel to assess the correct subsection and the relevant NCLT bench.

What evidence helps a property-based restoration case?

Build a clear, chronological file connecting the company’s corporate identity to the property and explaining how strike-off affects lawful management. The NCLT will assess the circumstances; unsupported assertions about value or activity are weak.

• ROC records, Gazette notice, incorporation and current shareholder/director details.
• Registered title deed, encumbrance report, property and municipal records, possession proof and valuation.
• Financial statements, bank and tax records, board minutes and evidence of activity or continuing obligations.
• List of creditors, secured interests, pending cases, taxes and property outgoings.
• Affidavits and counsel-prepared petition explaining the relief and any consequential directions sought.

Missing annual filings and inactive operations do not necessarily eliminate the “otherwise just” ground; the evidence and Tribunal findings matter. Use the CompanyJi compliance calendar to map what may need attention after restoration.

What happens during the restoration petition?

A restoration petition is made to the appropriate NCLT bench under Section 252 and applicable Tribunal Rules. Counsel should confirm the current form, filing practice, fees and service requirements for that bench. The Registrar of Companies and other persons directed by the Tribunal may be heard.

• Prepare the petition, supporting affidavit and indexed evidence.
• Serve the ROC and other parties as required by law or the Tribunal’s directions.
• Address ROC objections and any evidence gaps or creditor and tax concerns.
• If restoration is ordered, read the operative directions carefully: the order can impose conditions and steps to place parties as nearly as possible in their former position.

An order is not guaranteed merely because property exists. Do not promise a fixed timetable or claim that filing the petition instantly restores corporate status.

Complete ROC and compliance steps after restoration

If the NCLT grants restoration, comply with the order’s filing and service directions and confirm that the ROC records reflect the restored status. Review outstanding accounts, returns, tax filings and statutory registers with professionals. Restoration does not itself erase prior defaults, taxes or property encumbrances.

• File and serve the certified order as directed, and retain evidence of ROC update.
• Reconstruct books and reconcile banks, property balances and creditors.
• Resolve outstanding company filings and taxes in the sequence required by the order and law.
• Regularise board and member records before authorising any new property transaction.

Read CompanyJi’s annual compliance guide and post-CCFS compliance guide for general filing context; any concession depends on its own eligibility rules.

When can the restored company sell or transfer the asset?

First establish restored status and the company’s power to act, then decide whether the property should be retained, leased, developed or sold. Directors must consider company approvals, the articles, lender permissions, title clearance, tax, stamp duty and any special approval for disposal of an undertaking. A property sale is a company transaction; shareholder interests do not substitute for company decisions.

• Obtain a current title and valuation review after restoration.
• Check required board, shareholder and lender approvals for the exact transaction.
• Settle or provide for property and company liabilities and disclose encumbrances.
• Document the buyer, consideration, banking trail, tax treatment and executed deed.

A buyer of the entire restored company faces a different diligence problem from a buyer of its property. For ownership transfers, see family-company restructuring.

A practical sequence for owners and heirs

Begin with identity and title, not a sale agreement. Have a company-law practitioner and property lawyer work from one evidence file. If directors or shareholders have died or ownership is disputed, identify who can validly instruct counsel and how succession or transmission affects the petition and later decisions.

Contact CompanyJi for records and compliance coordination through its contact page. The petition and property title work should be reviewed by qualified counsel for the facts.