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2021 (6) TMI 565 - Tri - Companies LawSeeking to restore the Company in the Register of Companies - Section 252(3) of the Companies Act, 2013 - HELD THAT - It has been brought to the notice of this Tribunal that the Petitioner has not complied with filing of balance sheet and other statutory returns before the RoC. The Registrar of Companies, Chennai, the respondent herein, is ordered to restore the original status of the Company i.e. M/s. Cricket Archive Private Limited as if the name of the Company has not been struck off from the Register of Companies with resultant and consequential actions like changing status of Company from strike off to Active - Application allowed.
Issues:
Company restoration under Section 252(3) of the Companies Act, 2013. Analysis: The Company Application No. 602/2020 sought restoration of a company in the Register of Companies under Section 252(3) of the Companies Act, 2013. The petitioner, M/s. Neem Tree Enterprises Private Limited, represented by its shareholder, provided evidence to prove that the company was active since its incorporation and maintained necessary documentation. However, the company defaulted in filing statutory returns for several financial years. The Registrar of Companies, Chennai, stated that the company's non-compliance led to its strike off from the register. Despite the non-compliance, the Tribunal decided to allow the application for restoration based on the documents and pleadings presented. The Tribunal ordered the restoration of the company's status to "Active" as if it was never struck off from the Register of Companies. The company was directed to file all pending statutory documents, including Income Tax Returns, Annual Returns, and Financial Statements from 2016-2017 onwards within 30 days of the restoration, along with prescribed fees. The petitioner was personally responsible for ensuring compliance with the order. Additionally, a cost of ?50,000 was imposed for the revival of the company, to be paid online through the specified portal. The petitioner was required to deliver a certified copy of the order to the Registrar of Companies, Chennai, within 30 days. Upon compliance with the directions, the Registrar was instructed to publish the order in the Official Gazette. The order was limited to the specific violations leading to the strike off, allowing the Registrar to take further legal actions for any other violations committed by the company. Finally, the Company Application No. 602/2020 was disposed of, with the provision for issuing a certified copy of the order upon completion of formalities.
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