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.

Company means a company incorporated under this Act or under any previous company law