2018 (3) TMI 646 - HC - Companies Law

Benefit of the Condonation of Delay Scheme, 2018 - Held that - This petition can be disposed of with the direction that respondents will follow the directives contained in Sandeep Singh (2018 (3) TMI 560 - DELHI HIGH COURT). It is made clear that the directives contained therein will apply to the petitioners mutatis mutandis. The petitioners will, however, take steps both in consonance with the provisions of Section 248 (2) of the Companies Act, 2013 and under the Condonation of Delay Scheme, 2018 within a period of ten (10) days from today. In order to facilitate this exercise, operation of the impugned list, insofar as it concerns the petitioners, will remain stayed till 31.3.2018 or, till such time the respondents take requisite decision with regard to the request of the petitioners made to them in consonance with the provisions under Section 248 (2) of the Companies Act, 2013 and under the Condonation of Delay Scheme, 2018.

Summary

Issues:
1. Application of judgment in a case involving the striking off of companies from the Register of Companies due to failure to file financial statements and annual returns.
2. Appointment of directors on the boards of the struck-off companies.
3. Non-operation of the struck-off companies for more than three years.
4. Revival of the struck-off companies under Section 248(2) of the Companies Act, 2013.
5. Availing the benefit of the Condonation of Delay Scheme, 2018.

Analysis:
1. The petitioners were appointed as Directors on the boards of two companies, one being struck off due to failure to file financial statements and annual returns. The petitioners do not wish to revive the companies but intend to follow the directives of a previous judgment.
2. The petitioners plan to take steps under Section 248(2) of the Companies Act, 2013, in line with the directives from the previous judgment. They also seek to benefit from the Condonation of Delay Scheme, 2018.
3. The judge, considering the petition and available records, directs the respondents to follow the directives from the previous judgment. The petitioners must take necessary steps under Section 248(2) and the Condonation of Delay Scheme within ten days.
4. The operation of the impugned list concerning the petitioners will remain stayed until 31.3.2018 or until the respondents decide on the petitioners' request under Section 248(2) and the Condonation of Delay Scheme.
5. The petitioners are required to complete necessary actions within ten days. Additionally, the Registrar of Companies will activate the petitioners' DIN and DSC. The related application shall be closed accordingly.