9911796707
TMI Blog2020 (8) TMI 649X X X X Extracts X X X X X X X X Extracts X X X X ..... the Tribunal, on appeal, directed restoration of name of Company in the Register of Companies after observing that litigation was pending since long against the Company, its Directors and Shareholders whose continuity will be affected by striking off the name of the Company. Pendency of such litigation was treated by the Tribunal as a just ground for ordering restoration. Though the Registrar of Companies has shown ignorance as regards any business being carried on by the Company, three suspended Directors of the Company (Appellants herein) appear to have opposed appeal preferred by Respondents No. 2 and 3 herein (Appellants before the Tribunal) and resisted their move to seek restoration of the Company. In the wake of litigations invol ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the appeal in terms of order dated 11th October, 2019 assailed in this appeal (impugned order). The fact that influenced the Tribunal in ordering restoration of name of Company has been noticed in Paragraph 10 of the impugned order, which reads as under:- Thus, taking into consideration the provisions under Section 252(3) of the Companies Act, 2013 which vests this Tribunal with a discretion where the Company whose name has been struck off and such Company is able to demonstrate that a running business was being pursued or its was in operation as on the date when the name was struck off, or otherwise it is just to do so, the Tribunal can restore the name of the Company in the Register of Companies. In the instant case the shareholder h ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... gister of Companies. Same are enumerated as under:- (i) That the Company was carrying on business or in operation at the time of its name being struck off or (ii) That it is otherwise just that the name of the Company be restored to the Register of Companies. 5. If either of these conditions is satisfied, the Tribunal may order restoration of Company to the Register of Companies and give such other directions and make such provisions as deemed fit so as to place the Company and all persons concerned in the same position as obtained prior to striking off of the name of Company from the Register of Companies. 6. In the instant case though name of the Company has been struck off from the Register of Companies due to statutory ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . Appellants have also admitted the factum of ROC having filed a complaint being Case No. 12/1997 before Special Court, Economic Offence, Jaipur against the Company and Respondent 2 herein under Section 220(3) of the Companies Act, 1956, in which fine has been slapped on the Company and Respondent No. 2 was sent to jail for a month. This fact, if taken on face value, would also show that there has been litigation involving the Company and its management. Furthermore, some litigation has been pending before ADJ-13, Jaipur where Execution Appeal is stated to have been dismissed. Notwithstanding the merit in such litigations, it cannot be overlooked that the Company and its management was locked in litigation even involving one or the other pa ..... X X X X Extracts X X X X X X X X Extracts X X X X
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