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TMI Blog2010 (9) TMI 234X X X X Extracts X X X X X X X X Extracts X X X X ..... had also made it impossible for any interested party to find out about the financial health of the company over a span of almost ten years. Thus the restoration of the company’s name to the Register maintained by the respondent will be subject to the payment of ₹ 75,000 as exemplary costs, payable to the common pool fund of the Official Liquidator. In addition, further costs of ₹ 25,000 be paid to the respondent.the restoration of the company’s name to the Register maintained by the respondent will be subject to the payment of ₹ 75,000 as exemplary costs, payable to the common pool fund of the Official Liquidator. In addition, further costs of ₹ 25,000 be paid to the respondent. - COMPANY PETITION NO. 330 OF 2009 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y this position, counsel for the respondent submitted that the petitioner s name in the respondent s electronic records was erroneously recorded as Mage Plastronics Pvt. Ltd. , and therefore, the same name was also published in the Official Gazette. Counsel for the respondent further submitted that, however, the petitioner s name in the respondent s physical records is correct. 3. The petitioner alleged that it did not receive any show-cause notice, nor was it afforded any opportunity of being heard before the aforesaid action was taken by the respondent. On examination, it appears that the address of the petitioner s registered office in the records of the respondent is correct. It is therefore presumed that the petitioner was duly se ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing and additional fee, as applicable on the date of actual filing. The certificates of No Objection of the Directors, to the restoration of the name of the petitioner to the Register, have also been placed on record. 7. In Purushottamdass v. Registrar of Companies [1986] 60 Comp. Cas. 154 (Bom.), the Bombay High Court, in paragraph 20 thereof, has held, inter alia, that; "The object of section 560(6) of the Companies Act is to give a chance to the company, its members and creditors to revive the company which has been struck off by the Registrar of Companies, within a period of 20 years, and to give them an opportunity of carrying on the business only after the company judge is satisfied that such restoration is necessary in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... om the norm by imposing lower or no costs at all, or even levying further additional costs, depending on the circumstances. 10. The facts and circumstances of this case show that this is not a case where the interests of justice and requirements of the statute would be met merely by the payment of costs of the respondent. The whole matter has obviously been handled in a very casual manner and must be deprecated. To my mind, such conduct does not display sound and responsible business functioning expected of companies. The non-filing of returns and balance sheets with the respondent had also made it impossible for any interested party to find out about the financial health of the company over a span of almost ten years. Earlier decisions ..... X X X X Extracts X X X X X X X X Extracts X X X X
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