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2020 (12) TMI 158 - Tri - Companies Law


Issues involved:
Appeal against striking off company's name under Section 252(1) of the Companies Act, 2013.

Analysis:
1. Background: The appeal was filed against the striking off of a company's name by the Registrar of Companies under Section 248(1) of the Companies Act, 2013.

2. Company Details: The company was incorporated as a Private Limited Company with a specific Authorized Share Capital and main business objectives related to managerial resourcing and other allied activities.

3. Reason for Striking Off: The company's name was struck off due to non-filing of Balance Sheets and Annual Returns for the Financial Years 2017, 2018, and 2019, indicating non-operation of the business.

4. Appellant's Evidence: The appellant provided evidence of the company's operations, including Audited Financial Statements, Bank Statements, Income Tax Returns, and GST Returns, demonstrating business activities and financial transactions.

5. ROC's Response: The Registrar of Companies had no objection to restoring the company's name if all pending statutory documents were filed with requisite late filing fees.

6. Legal Grounds: Section 252 of the Companies Act, 2013 provides grounds for restoration, requiring the company to be in operation or justifying restoration in the interest of stakeholders.

7. Decision: The Tribunal allowed the appeal, declaring the striking off of the company's name as illegal. The restoration was ordered upon completion of all formalities and payment of prescribed fees, including a contribution to the Prime Minister's Relief Fund.

8. Outcome: The company's name was restored to the Register of Registrar of Companies, as if it had not been struck off, in accordance with the Companies Act, 2013.

9. Conclusion: The appeal was allowed and disposed of, with the order to be served to the parties involved.

 

 

 

 

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