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TMI Blog2020 (10) TMI 691X X X X Extracts X X X X X X X X Extracts X X X X ..... l Government to conduct the single Entrance Test for Medical students. Now, there seems to be bundle of opportunities for the Company due to revision in the decision by the Hon'ble Supreme Court. It is also stated that the petitioner Company is getting enquiries and also negotiating with its prospective clients regarding the possible projects, wherein the petitioner company is confident of getting projects and also considerable revenue from the same. It is further stated that the petitioner company has also finalised its financial statements Annual returns for the financial year end 2012 to 2018. The Applicant Company intends restart its business, and it would be proper to restore its name in the Register of Companies. Further, the Company has undertaken to file all the overdue Balance Sheets and Annual Returns for the periods of default, within 30 days of restoration - Company petition is allowed by directing the Registrar of Companies to restore the name of the Company in the Register of the Registrar of Companies, as if it was not struck off, subject however, to its making statutory compliances within a period of 30 days and payment of a cost of ₹ 25,000/-. App ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Director No. 69 2nd Floor 4th Cross Chinapana 20.04.2011 (3) The shareholding pattern of the Company, as on the date of making this Petition is as follows: Sl. No. Name of the Shareholder No. of Shares held Nominal Value 1. Vijay Kumar 9900 99,000 2. Arqum Beg 100 1000 TOTAL 10000 ₹ 1,00,000 (4) It is stated that the Registrar of Companies, Bangalore i.e. the Respondent herein, struck off the petitioner Company's name of the register due to defaults in statutory Compliances, namely, failure to file financial statements Annual Returns for the Financial year end 2012 to 2017. Consequently, the Registrar of Companies, Karnataka initiated proceedings under section 248 of the Companies Act, 2013, for the purpose of striking off the name of the company from the register maintained ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d by the Petitioner Company till 21.06.2017 on which the list of defaulting Companies were crystalized, the Respondent proceeded to strike of the name of the Company from its Register and published a Notice in STK-7 in the Official Gazette on 29.07.2017 stating that from 17.07.2017 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. The Respondent has complied with all the procedure prescribed u/s 248 of the Act before removal of the name from the Register. (3) It is stated that the Petitioner has in his Petition given the reasons which led the Company to be struck off. It is inter alia stated that the Petitioner Company is now getting enquiries and also negotiating with its prospective clients regarding the possible projects, wherein the Company is confident of getting projects and also considerable revenue from the same. The Petitioner Company has stated that it shall file all outstanding statutory documents i.e., the Financial Statement and the Annual Returns for the period 2011-12 to 2018-19 along with the filing fees and the additional fee, as applicable on the date o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... went to Hon'ble Supreme Court against the Central Government's Order and the verdict was given in favour of the Association of Private Medical Colleges because of which the Company had no option but to stop the business. However on 11.04.2016 the Hon'ble Supreme Court reversed their own judgment i.e. Medical Council of India Vs. Christian Medical College Vellore Ors. and allowed the Central Government to conduct the single Entrance Test for Medical students. Now, there seems to be bundle of opportunities for the Company due to revision in the decision by the Hon'ble Supreme Court. It is also stated that the petitioner Company is getting enquiries and also negotiating with its prospective clients regarding the possible projects, wherein the petitioner company is confident of getting projects and also considerable revenue from the same. It is further stated that the petitioner company has also finalised its financial statements Annual returns for the financial year end 2012 to 2018. 7. In view of the foregoing, we are convinced that the Applicant Company intends restart its business, and it would be proper to restore its name in the Register of Companies. Fu ..... X X X X Extracts X X X X X X X X Extracts X X X X
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