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TMI Blog2018 (1) TMI 1441X X X X Extracts X X X X X X X X Extracts X X X X ..... ing restoration of the name of the petitioner company on the Register of Companies maintained by the office of the ROC, NCT of Delhi and Haryana. Subsequently, vide Hon'ble High Court Delhi's Order dated 09.02.2017 in terms of the notification Regd. No. D.L.-33004/99 dated 07.12.2016, issued by the Ministry of Corporate Affairs and in particular, Clause 3 thereof, the present petition under Section 560(6) of the Companies Act 1956, stands transferred to the Principal Bench, National Company Law Tribunal, New Delhi 2 Facts in brief necessary for disposal of the controversy raised in the petition are that the petitioner-company was incorporated under the provisions of Companies Act, 1913 on 15.02.1956 with the office of the Registrar ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and Profit and Loss Account and that it has been filing the same with the ROC upto 31.03, 1999. In Para 9 of the petition it is stated that "it had been carrying on its building the business of running a cinema hall under the name and style of "PALACE" continuously without any interruptiön till 2002. However, with the onset of multiplexes and change in market conditions - the cinema was faced with dwindling demand and in view of major renovations required - the business of the cinema was in abeyance. During the period of abeyance, the Petitioner was unable to file / electronically upload the documentation as required by the Registrar from time to time on account of being short-staffed and absence of professional help. However, the pro ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he application are as follows: (i) "Pass an order for the restoration of the Name of the Petitioner Company- G S C Industries Private Limited on the Register of Companies maintained by the office of Registrar of Companies, NCT of Delhi & Haryana at New Delhi. (ii) Pass order/directions to the Registrar of Companies, NCT of Delhi & Haryana for placing the Petitioner Company, its Management and Board of Directors in the same position as nearly as may be as if the name of the Company had not been struck off (iii) Direct the office of the Registrar of Companies to accept the Annual Return and Audited Balance Sheet from the date of non-submission to 2014 and Audited Balance Sheets and Profit & Loss account up to current financial years for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... also been enclosed and the names of original subscribers are Shri Gurmukh Singh Chawla Slo Surinder Sodhi and Mrs. Maheshinder Singh Sodhi W/o Surinder Sodhi. 2.5 Along with the petition, audited balance sheet for the year ending 31st March, 2014 and 31st March, 2015 have also been filed as Annexure P-4, A list of Directors of the Petitioner Company has also been disclosed (A-5), It is seen that all these Directors have been appointed on 29.09.1998 and in view of the affidavits filed by these Directors as quoted in para-6 above, it is apparent that they continued as Directors on the date of filing the petition. No information has been given regarding the founding subscribers or the Directors of the company before the appointment of these p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y business. Notice for striking off was published in the Official Gazette on 23.6.2007. Further the petitioner company has failed to produce any statutory return as proof of it being in operation and carrying on business. The name of the petitioner company has been struck off by following the procedure laid down by Section 560 of the Companies Act, 1956. 6. A rejoinder has also been filed reiterating the stand taken by the petitioner and claiming that it could not file its annual returns w.e.f financial year ending 1999 and that it has not received any show cause notice contemplated by the statutory provisions. The petitioner company has also filed its Income Tax returns acknowledgement receipts. The receipts itself shows that the petition ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... plication made by the company, member or creditor before the expiry of 20 years from the publication in the official Gazette of the notice thereof, may if satisfied that the company was at the time of the striking off carrying on business, or in operation or otherwise that it is just that the company be restored to the register, order the company to be restored to the register. One of the following three conditions are required to be satisfied before exercising jurisdiction to restore company to its original name on the register of the ROC namely: A) that the company at the time of striking off of its name was carrying on business, or B) it was in operation, or C) otherwise that it is just that the name of the company be restored to t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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