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TMI Blog2018 (4) TMI 1646X X X X Extracts X X X X X X X X Extracts X X X X ..... ck off - Therefore, the name of the company cannot be restored and the Registrar of Companies, Karnataka, Bangalore had rightly removed the name of the company from the register of companies. Petition dismissed. - C. P. No. 35/BB/ 2018. - - - Dated:- 3-4-2018 - Ratakonda Murali Judicial Member And Ashok Kumar Mishra Technical Member For the Petitioner : Badri Vishal , Srinivas and Badri ORDER ASHOK KUMAR MISHRA (TECHNICAL MEMBER).- 1. A director and subscribers to the memorandum and articles of association by name Mr. Dayananda Premchandra Sagar of the petitioner-company Cayenne Developments P. Ltd., has filed the present petition under section 252(3) of the Companies Act, 2013, with a prayer for issuance of directions to the Registrar of Companies, Karnataka to restore the name of the petitioner-company in the Register of Companies and to pass such order as deems fit in the circumstances of the case. 2. The averments in the company petition are briefly described hereunder : The petitioner-company was originally incorporated on May 6, 2011 under the name and style of Cayenne Developments P. Ltd. with the Registrar of Companies, Karnataka and obta ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ny shall make an application in the prescribed form to strike off the name of the company from the Register of Companies in terms of provisions of section 248(2). A copy of the special resolution dated December 13, 2016 is produced enclosed as annexure E. The special resolution dated December 13, 2016 was filed with the Registrar of Companies in Form MGT-14. Copy of Form MGT-14 and receipt for payment of fee for MGT-14 (GAR 7) is enclosed as annexures F and G respectively. 8. It is further averred that, the directors of the petitioner-company could not proceed with the striking off the name of the petitioner-company as passed in the special resolution dated December 13, 2016 as the Form STK2, required under the Companies Act, 2013 for making an application to the Registrar of Companies was not available. Also since provisions of the Companies Act, 1956 with respect of striking off the name of the company was repealed ; the petitioner was not in a position to make an application under section 560 of the Companies Act, 1956. 9. It is also averred that subsequently the Registrar of Companies, Karnataka has initiated proceedings under section 248(1) of the Companies Act, 2013 for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed as annexure L. 11. It is further averred that the Ministry of Corporate Affairs issued the Condonation of Delay Scheme, 2018 vide General Circular No. 16 of 2017 (See [2018] 206 Comp Cas (St.) 120.) giving an opportunity under Part 5(v) to the defaulting companies whose name has been struck off and which have filed application under section 252 of the Act, up to the date of the Scheme, to file overdue documents which were due for filing till June 30, 2017 by reactivating the DIN of the directors of the petitioner-company. A copy of the Condonation of Delay Scheme, 2018 is enclosed and marked as annexure M. The Scheme shall remain in force up to March 31, 2018. The petitioner intends to avail the benefits of Condonation of Delay Scheme, 2018. In view of the same, the petitioner is filing this petition for restoration of the name of the company. 12. It is further averred that the petitioner-company, in the event of revival of the company and restoration of the name of the company in the register maintained by the Registrar of Companies, Karnataka, shall file all outstanding statutory documents, i.e., the financial statements and annual returns for the period 2011 to 2017 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... es of the notice in website, Official Gazette and paper publication in Vijay Karnataka and the Times of India are shown as annexures III, IV, V and VI respectively. (4) It is submitted that since neither cause was shown to either the physical notices or to the website, Gazette and newspaper notices either by the company or by its directors, and also since no balance-sheet or annual return was filed by the petitioner-company till June 21, 2017 the day on which the list of defaulting companies were crystallized, the respondent proceeded to strike of the name of the company from the Register of Companies and published a notice in STK-7 in the homepage of the MCA on July 17, 2017. A copy of the said STK-7 notice is shown as annexure VII. It was also published in the Official Gazette on July 29, 2017 stating that from July 17, 2017 names of the companies mentioned therein including the petitioner-company have been struck off from the Register of Companies as per section 248(5) of the Act. A copy of the publication made in the Official Gazette on July 29, 2017 is shown as annexure VIII. (5) The petitioner has stated that, due to unavoidable reasons the company could not initiate th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... kman thereof feels aggrieved by the company having its name struck off from the Register of Companies, the Tribunal on an application made by the company, member, creditor or workman before the expiry of twenty years from the publication in the Official Gazette of the notice under subsection (5) of section 248 may, if satisfied that the company was, at the time of its name being struck off, carrying on business or in operation or otherwise it is just that the name of the company be restored to the register of companies, order the name of the company to be restored to the register of companies, and the Tribunal may, by the order, give such other directions and make such provisions as deemed just for placing the company and all other persons in the same position as nearly as may be as if the name of the company had not been struck off from the register of companies. 18. We have heard counsel for the petitioner-company, who contended that, due to unavoidable reasons the company could not initiate the business of infrastructural developments and hence no operation or business was being carried out by the company so incorporated. Since the company was an inactive company and was un ..... X X X X Extracts X X X X X X X X Extracts X X X X
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