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TMI Blog2020 (11) TMI 291X X X X Extracts X X X X X X X X Extracts X X X X ..... able to demonstrate that there is a running business as on the date when the name was struck off and also keeping in consideration that it is just to do so, can restore the name of the Company, in the Register and in the interest of all stakeholders, including the Appellant itself, who seeks restoration of the name of the Company in the register maintained by Registrar of Companies, the company deserved to be restored. The Public Notice of Registrar of Companies, striking off the name of the company is hereby declared illegal and set aside - Appeal allowed. - Appeal No. 145/252/ND/2019 - - - Dated:- 30-7-2020 - Dr. Deepti Mukesh , Member ( J ) And Hemant Kumar Sarangi , Member ( T ) For the Appellant : Meena , Advocate Fo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mmovable properties of any description or nature on commission basis and for that purpose to make agreements to sell the land of the company or of anybody else and to deal in building material electrical and civil materials. (ii) To consolidate or subdivide develop maintain purchase sell and letting on hire all houses and sheds and to let out same on rental or license basis and/or to sell the same on hire purchase or installment system or other basis dispose of the same and to acquire land for the construction of multi-storied buildings and to license the flats therein on suitable terms and condition and to carry on the business of buy, sell, trade, import, export, contract, suppliers and dealers in all kinds of buildings materials and o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... een struck off from the Registrar of Companies and the Company has been dissolved. 7. As per the notice of non-compliance of provision of the Companies Act, 2013, the said company has not filed its Annual Returns and Balance Sheet for F. Y. 2013-14 to 2017-18, the name of the company was struck off in terms of provision of Section 248(1) of the Companies Act, 2013 read with Rule 7 and Rule 9 of the Companies (Removal of Names of Companies from the Register of Companies) Rules, 2016. 8. The appellant has submitted that the financial statement upto the year ending 31.03.2013, alongwith other statutory documents, were duly filed by the Company with the Respondent (duly reflecting in the Master Data of the Company). The company was active ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ement since Financial Year ended on 31.03.2014. However, the ROC further submits that the company was struck off by the office of Respondent because neither the company was carrying on any operation for a period of two immediately preceding financial years, nor obtained the status of a Dormant Company under Section 455 of the Companies Act, 2013. 11. The Income Tax Department has filed its reply on 13.09.2019 in which it has been submitted that the Company has filed its Income Tax Return since F. Y. ended on 2014. 12. The Income Tax Department further submitted that Information received from Investigation Wing that the assesse is a beneficiary of taking accommodation of taking accommodation entry in the grab of share application money ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... name on the register of the Registrar of Companies. 15. The Appellant has submitted sufficient evidence that it has been in operation since incorporation and during the period preceding strike off, therefore it could not be termed as a defunct company as per section 252 of the Act. Thus, taking into consideration the provisions of Section 252(1) 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 there is a running business as on the date when the name was struck off and also keeping in consideration that it is just to do so, can restore the name of the Company, in the Register and in the interest of all stakeholders, inclu ..... X X X X Extracts X X X X X X X X Extracts X X X X
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