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TMI Blog2009 (10) TMI 522X X X X Extracts X X X X X X X X Extracts X X X X ..... ck off the name of the company from the Register of Companies in exercise of the powers under section 560(5) of the Companies Act, 1956. 3. The brief facts of the present matter are that the company was incorporated on 14-8-1975. The company constructed a cold storage on freehold land of about 0.71 acres at Churamanpur, Buxar and started the business of cold storage and other allied businesses. For carrying on its business activities it had obtained secured loans from the Bihar State Financial Corporation and from the Central Bank of India, Buxar towards working capital. For several reasons when the company started making heavy losses the directors decided to temporarily suspend its business activities. Thereafter they took steps to liquid ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er section 560(3) of the Companies Act that the ground for issuing the same was that the company had not filed its statutory returns for more than last three years. However, on the own admission of the Registrar of Companies the company had filed up to date returns through e-filing in the month of February 2007, itself during the period 22-2-2007 to 28-2-2007 and thus the ground set forth in the notice was non-existent. 6. It is further evident that the said notice did not comply with the mandatory provisions of section 560(3) of the Companies Act. Sub-sections (3) and (5) of section 560 of the Companies Act are quoted below:- "560(3). If the Registrar either receives an answer from the company to the effect that it is not carrying on bus ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tioned therein will, unless cause is shown to the contrary, be struck off from the Register of Companies and the company will stand dissolved. There is no such averment in the counter affidavit or in the supplementary counter affidavit filed on behalf of the Registrar of Companies that a notice under sub-section (3) of section 560 of the Act was ever published in the Official Gazette. In fact, this court had specifically granted time to learned counsel for the Registrar of Companies to state the said fact on affidavit. All that is shown is a notice dated 6-7-2007, which does not mention the fact that within three months of the same cause is to be shown to the contrary. As a matter of fact, the Registrar of Companies did not even wait for th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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