Section 249 — Restrictions on making application under section 248 in certain situations

(1) An
application under sub-section (2) of section 248 on behalf of a company shall not be made if, at any time
in the previous three months, the company—
(a) has changed its name or shifted its registered office from one State to another;
(b) has made a disposal for value of property or rights held by it, immediately before cesser of trade
or otherwise carrying on of business, for the purpose of disposal for gain in the normal course of trading
or otherwise carrying on of business;
(c) has engaged in any other activity except the one which is necessary or expedient for the purpose
of making an application under that section, or deciding whether to do so or concluding the affairs of
the company, or complying with any statutory requirement;
(d) has made an application to the Tribu nal for the sanctioning of a compromise or arrangement
and the matter has not been finally concluded; or
1[(e) is being wound up under Chapter XX of this Act or under the Insolvency and Bankruptcy
Code, 2016 (31 of 2016).]
(2) If a company files an applica tion under sub-section (2) of section 248 in violation of sub -section
(1), it shall be punishable with fine which may extend to one lakh rupees.
(3) An application filed under sub -section (2) of section 248 shall be withdrawn by the company or
rejected by the Registrar as soon as conditions under sub-section (1) are brought to his notice.

1. Subs. by Act 31 of 2016, s. 255 and the Eleventh Schedule, for clause (e) (w.e.f. 15-11-2016).