2013 (7) TMI 1071 - HC - Companies Law

Summary

Issues involved: Petition filed u/s 560(6) of the Companies Act, 1956 seeking restoration of a company due to non-filing of annual returns and balance sheets.

Details of the judgment:

Issue 1: Non-filing of annual returns and balance sheets
The petition was filed seeking restoration of the company as it had not filed its annual returns and balance sheets from 2000 to 2012, along with other statutory forms. The reply from the Registrar of Companies highlighted this non-compliance.

Issue 2: Payment of additional costs
The counsel for the Petitioner acknowledged the non-filing of documents for nearly thirteen years and agreed to pay additional costs along with filing fees to the ROC for the overdue documents.

Issue 3: Restoration of company
After considering the submissions, the court directed the Petitioner to pay a sum of Rs. 20,000 as costs to the Central Government within six weeks. Upon payment, the name of the company would be restored from 'inactive' to 'active' status. The Petitioner was given eight weeks to file all statutory documents, including the overdue annual returns, balance sheets, and other forms, by paying the additional fees as per the Act and Rules.

The petition was disposed of based on the above terms, ensuring compliance with the Companies Act, 1956.