9911796707
TMI Blog2020 (10) TMI 126X X X X Extracts X X X X X X X X Extracts X X X X ..... ile the statutory documents for a continuous period of more than two years, as mandatorily required under the statute and also for not carrying on the business. On hearing the submissions of the Learned Counsel appearing on behalf of Petitioner and on perusal of the Audited Accounts submitted by the Petitioner Company and the documents provided on record, the Bench has observed that the company has assets liabilities in its Books of Accounts during the immediately preceding two years from the date of striking off of its name by the Registrar of Companies - Therefore, it would be just and equitable to provide an opportunity to the company to rectify its defaults and continue the business. The prayer sought by the Petitioner company d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ping, exporters, converters, assemblers, elevators, conveyors, escalators, auto spares, machinery spares and parts, engineering products, automobiles products, spares, parts and accessories, metal parts, foundry and precision instruments, material handling equipment, sheet metal, press moulds, engineering items. 4. The grievance of the Petitioner Company is that the Respondent Registrar of Companies, Mumbai struck off the name of the Petitioner Company by issuing notice in Form STK-1 and STK-5 dated 09.05.2017 from the Register of Companies maintained by them by issuing notices for removal of the name of the Company from the Register of Companies under section 248 of the Companies Act, 2013 and rule 3 of the Companies (Removal of Name ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t Annexure-5. 9. The Petitioner Company submits that it has operational Bank account Number i.e. 3012257792 with the Central Bank of India, Satpur branch. Bank Statement verifying the same account has been enclosed at Annexure 6. 10. On perusal of the records, it appears that the name of the company was struck off for the failure on the part of the company to file the statutory documents for a continuous period of more than two years, as mandatorily required under the statute and also for not carrying on the business. 11. On perusing the Financial Statements of the Company, it is observed that the Petitioner Company has Net Current Assets of ₹ 10,422/-, Fixed Assets of ₹ 31,57,200/- as on 31.03.2018 and 31.03.2019. The ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aharashtra, Mumbai is allowed on the following terms: (a) The Respondent is directed to restore the name of the Petitioner company to the Register of Companies subject to payment of a sum of ₹ 50,000/- (Rupees fifty thousand only) as cost payable to the account of the Prime Minister's Citizen Assistance and Relief in Emergency Situations Fund (PM-CARES Fund) within thirty days from the date of receipt of copy of this order. (b) Upon such restoration, the Petitioner Company shall file all its pending Financial Statements and Annual Returns with all the applicable fees, late fees and proof of deposit of cost of ₹ 50,000/- (Rupees fifty thousand only) in the PM-CARES Fund with the Respondent within thirty days from the da ..... X X X X Extracts X X X X X X X X Extracts X X X X
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