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Issues involved: Company seeking restoration of its name in the register of Companies u/s 560(6) of the Companies Act, 1956.
Judgment Summary: The Company Petition was filed seeking direction to restore the name of the Petitioner Company in the register of Companies u/s 560(6) of the Act. The Company was incorporated as a Company Limited by shares but did not commence business activities. Subsequently, the Board of Directors decided to declare the Company "defunct" under the Simplified Exit Scheme. The Registrar declared the Company "defunct" and published the declaration. The Company's status was shown as "strike off" in the online search. Shareholders decided to revive the Company as circumstances favored restarting its financial and investment consultancy business. The petition sought restoration of the Company's name in the register of Companies u/s 560(6) of the Act. The Court noted the contentions raised and provisions of section 560(6) of the Act. Considering the circumstances, the Court deemed it just and proper to order restoration of the Company's name in the register of Companies. The petition was allowed, directing the Registrar to restore the Company's name as if it was never struck off. The Petitioner was instructed to provide a certified copy of the order to the Registrar within the specified time under rule 93 of the Rules. The Registrar was directed to proceed accordingly with no costs imposed.
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