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2020 (11) TMI 680 - Tri - Companies LawRestoration of name of the company in the Register of Companies - Section 252 of the Companies Act, 2013 - HELD THAT - The Appellant has submitted sufficient evidence that it has been in operation during the period preceding strike off, therefore it could not be termed as a defunct company as per section 252 of the Act. Thus, taking into consideration the provisions of Section 252(1) of the Companies Act, 2013, which vests this Tribunal with a discretion where the Company, whose name has been struck off, and such Company is able to demonstrate that it is just to do so, can restore the name of the Company, in the Register and in the interest of all stakeholders, including the Appellant itself, who seeks restoration of the name of the Company in the register maintained by Registrar of Companies, the company deserve to be restored. Application restored - appeal allowed.
Issues:
Appeal against striking off company's name under Section 248 of the Companies Act, 2013. Analysis: The appeal was filed by a company against the order of striking off its name by the Registrar of Companies (ROC) under Section 248(1) of the Companies Act, 2013. The company contended that it was incorporated as a Private Limited Company and provided details of its authorized share capital and main objects. The ROC had struck off the company's name due to non-filing of Financial Statements and Annual Returns, indicating non-operation of the business, as per Section 248 of the Act. The company presented evidence to show its operation and functionality during the period of striking off, including a Lease Deed, Audited Financial Statements, and relevant certificates. The ROC expressed no objection to restoring the company's name if all pending statutory documents were filed along with late filing fees. The Income Tax Department confirmed non-filing of Income Tax Returns but mentioned no pending cases or cash deposits during demonetization. The Tribunal considered the grounds under Section 252 of the Companies Act, 2013, which allow restoration if the company was in operation at the time of striking off or if it appears just to restore its name. The Tribunal found the evidence provided by the company sufficient to demonstrate its operation, thus ordering the restoration of the company's name in the Register of Companies. The appeal was allowed, declaring the striking off as illegal, and setting aside the Public Notice. The company was directed to complete all formalities, pay necessary fees, and contribute to the Prime Minister's Relief Fund for restoration. In conclusion, the appeal was allowed, and the company's name was restored in the Register of Companies, as if it had not been struck off initially, in accordance with Section 248(1) of the Companies Act, 2013. The order was served to the concerned parties for compliance and information.
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