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TMI Blog2010 (4) TMI 616X X X X Extracts X X X X X X X X Extracts X X X X ..... he respondent will be subject to the payment of ₹ 50,000 as exemplary costs, payable to the common pool fund of the Official Liquidator. In addition, further costs of ₹ 25,000 be paid to the Registrar of Companies. Costs be paid within three weeks from today. The restoration of the petitioner-company’s name to the Register will be subject to the petitioner filing all outstanding documents required by law and completion of all formalities, including payment of any late fee or any other charges which are leviable by the respondent for the late filing of statutory returns. - COMPANY PETITION NO. 406 OF 2008 - - - Dated:- 27-4-2010 - SUDERSHAN KUMAR MISRA, J. Pradeep Dhingra for the Petitioner. V.K. Gupta for the Re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 77. 4. The petitioner states that the company has been active since incorpo-ration, and has also been maintaining all the requisite documentation, as per the provisions of the Companies Act, 1956. In support of this statement, copies of income-tax returns for the assessment years 2005-06, 2006-07, 2007-08; sales tax returns for the years 2002-08; bank statements for the years 2003-04, 2004-05, 2005-06, 2006-07 and 2007-08 up to 10-9-2008, have been annexed to this petition. 5. It is further stated by the counsel for the petitioner that the registered office of the company had shifted in 2006, and that the responsibility for intimating the respondent of that fact was given to M/s. Shaival and Sunil, Chartered Accountants. This was ad ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... reated on the property of the company with the Central Bank of India. 8. Counsel for the respondent does not have any objection to the revival of the company, subject to the company filing all outstanding statutory documents, i.e., annual returns for the period 30-9-2001 to 30-9-2008, and balance sheets for the period 31-3-2001 to 31-3-2008, along with the filing 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 company to the Register maintained by the respondent, have also been placed on record. 9. In Purushottamdas v. Registrar of Companies [1986] 60 Comp. Cas. 154 , the Bombay High Court, in paragraph 20 thereof, has he ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... artered Accountants whose services had been engaged. If any employee, whether part-time or full-time, defaults in his duties, the primary responsibility for ensuring statutory compliances remains that of the management. At the same time, since there is the possibility of the company to continue functioning, therefore, and as held in Purushottam-das case ( supra ); it is only proper that the impugned order of the respondent, which struck off the company s name from the Register of Companies, be set aside. 11. I might notice that rule 94 of the Companies (Court) Rules, 1959 states, inter alia, as follows : "Unless for any special reasons that the Court shall otherwise order, the order shall direct that the petitioners do pay to the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... turns mandated under the Companies Act are not being filed. There is also no excuse for not having informed the respondent of the change in address of its registered office. 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 eight years. 14. For all these reasons, the restoration of the company s name to the Register maintained by the respondent will be subject to the payment of Rs. 50,000 as exemplary cost ..... X X X X Extracts X X X X X X X X Extracts X X X X
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