In a judgment given by National Company Law Appellate Tribunal ( NCLAT ) on 5 th of Nov, 2019, in the case of ‘Hemang Phophalia v. The Greater Bombay Co-operative Bank Ltd & Anr’, NCLAT dealt with an issue that whether Insolvency Proceedings can be initiated if a Debtor Company is struck-off by ROC and is considered dissolved as per sec. 248(5) of the Companies Act, 2013. In order to understand the legal viability of initiating CIRP (Corporate Insolvency Resolution Process) against a Corporate Debtor when it has been struck-off by ROC, we need to understand the effects of striking-off the company in terms of Sec. 250 of the Companies Act, 2013. It explains that when company is struck-off it is considered having ceased to operate except for the purpose of realizing the amount due to the company and for the payment or discharge of the liabilities or obligations of the company. Hence it is clear that for realizing any amount from or by such Company, the compan...