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TMI Blog2017 (6) TMI 88X X X X Extracts X X X X X X X X Extracts X X X X ..... ce in considering its reply if any given within the mandated period by the Registrar of Companies like the petitioner company. It is another matter if the notice has been served requiring the petitioner company to show cause and despite the same, the petitioner company has failed and neglected to respond. However, that is not the case here. Taking into consideration the above aspects and in view of the petitioner demonstrating that as of today, the company is a running company and that it will be seriously prejudiced if not restored in the register of Registrar of Companies, the petition is allowed subject to following conditions, namely, the petitioner company shall :- (a) subsequent to a month of the restoration of the petitioner compa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... was ordered to the Registrar of Companies and the respondent was required to file its reply to the petition within the time limit specified therein. The respondent, Registrar of Companies filed the same within the time limit specified by the Hon'ble High Court of Delhi and vide order dated 06.1.2015, the petitioner had sought time to file rejoinder along with the supporting affidavit disclosing the then current state of affairs of the company including all assets of the company, Profit Loss account, Balance Sheet to demonstrate the current state of health of the company. 2. On 06.1.2017, the Hon'ble High Court of Delhi in view of the Notification Regd. No.DL-33004/99 dated 07.12.2016 had transferred the petition to the Principa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 13, the Directors of the Company were basically, involved in arranging the funds for the survival of the company and in order to remain functioning. Under the circumstances, the company was not in a position to file its annual Returns and Balance Sheet with the Registrar of Companies and for the aforesaid period, they had basically entrusted the job of filing the necessary annual accounts, Returns and other documents to its authorized representative through its auditor and the petitioner company believed that the obligation entrusted to the said representative were being fulfilled. 5. In the meanwhile, in the meeting of Board of Directors of the company, the petitioner company reported that it was able to start earning small profits out ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f Companies under Section 560 (5) of the Companies Act, 1956 notice was given and published and only thereafter on 31.5.2017, the name of the company was struck off. 8. In this connection, the Gazette Notification annexed as Annexure-I to the reply is being pointed out by the respondent. The learned representative appearing on behalf of the Registrar of Companies before us reiterated that all the formalities as contemplated under the provisions of the Act were complied with, but however, stated that copies of the notice or letters of their dispatch and proof of its issue under sub Sections (i) (iii) of Section 560 of the Companies Act, 1956 in relation to the petitioner company are not traceable in view of the records relating to the s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... itioner company was never provided with any opportunity to submit any explanation or show-cause before the respondent. The petitioner had also enclosed along with the rejoinder, the financial statements of the company for the year ended 31.3.2015 as well as 31.3.2016 which shows considerable holding of tangible and current assets with the company and that it does not suffer from any liability other than a liability to the extent of ₹ 1,06,568/- towards the expenses payable towards the statutory dues. It is also seen that the company is having substantial surplus fund as per the Audited Balance Sheet for the year ended 31.3.2016, (i.e) to the extent of ₹ 1,21,33,165/- and that a sum of ₹ 19,13,143/- is reflected as cash or ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the same, the petitioner company has failed and neglected to respond. However, that is not the case here. Taking into consideration the above aspects and in view of the petitioner demonstrating that as of today, the company is a running company and that it will be seriously prejudiced if not restored in the register of Registrar of Companies, the petition is allowed subject to following conditions, namely, the petitioner company shall :- (a) subsequent to a month of the restoration of the petitioner company's name in the register maintained by the Registrar of Companies, the petitioner will file its annual returns and Balance Sheets for the period from which there has been a default including for the period from 01.04.2000 onwards al ..... X X X X Extracts X X X X X X X X Extracts X X X X
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