Mohali Hi Tech Builders And Promoters Pvt Ltd v. Sulochana And ANR
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32. A plain reading of the aforesaid provisions makes it abundantly clear that the removal of a company's name from the Register of Companies does not ipso facto extinguish its liabilities or those of its directors and officers. The statutory framework itself contemplates the continuation and enforcement of liabilities notwithstanding dissolution, and therefore, the mere fact of striking off cannot, at this stage, be construed as an impediment to the invocation of arbitration.
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33. In view of the above, this Court is of the prima facie opinion that the striking off of Respondent No.1-Company does not, by itself, render the arbitration agreement inoperative or incapable of being acted upon. Further, the question whether Respondent Nos. 2 and 3 can be held personally liable, whether they can be proceeded against in arbitration, and the extent of their contractual or statutory obligations, if any, are matters which would require a comprehensive examination of both law and fact. Such issues are more appropriately adjudicated by the learned Arbitral Tribunal upon consideration of pleadings and evidence, rather than by this Court at the threshold stage under Section 11 of the A&C Act."
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