MCA vide General Circular No. 04/2017 on Tuesday, 16th May, 2017 has clarified regarding the representations received from Regional Director, Mumbai as to whether fresh applications under Sec16 of the Companies Act, 2013 can be entertained in respect of earlier rejected applications under Sec 22(1)(ii)(b) of the Companies Act, 1956 on ground of being time barred as the prescribed period of twelve months had been completed as contemplated in said Section 22(1)(ii)(b); the basis that there is no time limitation under new Act.
In this connection, it is clarified that earlier rejected applications under Sec 22(1)(ii)(b) of the Companies Act, 1956 on the ground of being time barred as time limit of 12 month has been completed, cannot be applied afresh and entertained by Regional Director under Sec 16(1)(a) of the Companies Act, 2013 even if no limitation period is specified therein.
The said circular can be accessed at the following link:GenCir4_2017_16.05.2017_ClarificationForSec16