2019 (1) TMI 1982 - Tri - Insolvency and Bankruptcy

Settlement of company - company has not filed its Annual Returns from 2001 onwards till date - HELD THAT - On perusal of this application, it appears that this company has not filed its Annual Returns from 2001 onwards till date i.e. for more than 15 years, that apart, this Bench has noticed that this company has not been doing any business. The Companies not doing any business and not doing filings, such companies shall not be settled, henceforth this Application is hereby dismissed for want of merit.

Summary

The National Company Law Tribunal Chennai dismissed an application due to a company not filing its Annual Returns for over 15 years and not conducting any business activities. The tribunal ruled that such companies should not be settled.