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TMI Blog2020 (11) TMI 851X X X X Extracts X X X X X X X X Extracts X X X X ..... Company as if the name of the company has not been struck off from the Register of Companies and take all consequential actions like change of company s status from Strike off to Active (for e-filing) and to intimate the bankers about restoration of the name of the company so as to defreeze its accounts, provided the Appellant Company produce the documents. Application allowed. - CA/31/KOB/2020 - - - Dated:- 5-11-2020 - Hon ble Shri Ashok Kumar Borah, Member (Judicial) For the Appellant : Mr. Shameem Ahmed, Advocate. For the Respondent : No appearance ORDER This Company Appeal No. CA/31/KOB/2020 has been filed under Section 252 of the Companies Act, 2013, (hereinafter called as the Act ), by Mr. Abdul Rasheed, Shareholder of M/S. THIRUVAMPADY ROCKS PRIVATE LIMITED (hereinafter called as the Appellant Company ), represented, seeking a direction to the Registrar of Companies, Kochi (hereinafter called as the ROC ) to restore the name of the Company in the Register of Companies, maintained by the Registrar of Companies, Kochi, for the State of Kerala and Lakshadweep. The Appellant Company was incorporated on 17th November, 2011 under the Companies Act, 1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y the Company. The Audited Balance Sheets of the Company would show that at present the Company has fixed assets to the tune of INR 46,13,000(Rupees Forty-Six Lakhs Thirteen Thousand). 6. The Appellant stated that, as there were no major revenues and the main commercial operations were not fully operational , the Company has not engaged any professional audit firms or consultancy firms and due to lack of knowledge and proper guidance, the company did not file the Annual Returns and Financial Statements within the stipulated time and also stated that, since the Appellant Company had not received any profit throughout the period of its operation, there was no major revenue earned by the Appellant Company and, therefore, there was no taxable income as per the Income Tax Returns. 7. The ROC, who is Respondent herein, has filed a Report on 06.07.2020 stating that the Ministry of Corporate Affairs vide communication dated 17.02.2017 had instructed all Regional Directors and Registrars of Companies to take strike off action against companies which have failed to file Financial Statements or Annual Returns as per Chapter XVIII of the Companies Act, 2013 and have not filed application ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 11. On 20.07.2020, the learned counsel for the Appellant appeared through video conferencing for hearing and submitted that another Company Appeal of their Sister Concern i.e. CA/34/KOB/2020 filed by M/s Thiruvampady Stone Crushers Private Limited also be heard along with this Company Appeal since the documents related to both the Appeals are interlinked. Subsequently, while hearing, this Bench observed that some relevant documents have not been produced by the Appellant along with both the Company Appeal. Hence, the learned counsel was directed to produce the following documents mentioned in Annexure A8 of the connected Company Appeal CA/34/KOB/2020 as follows: - a) No objection certificate from Kerala State Pollution Control Board. b) No objection certificate from the Geological Department c) If any building is being constructed in the premises, then the permit issued under the Kerala Panchayath Building Rules. d) If machines are being used, then the statement including the Horse Power (HP) for the operation of machine. e) The Sketch and Possession Certificate of the land. 12. The Appellant was also directed to submit the certificates relating to Explosives, Pol ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Licence, the Appellant Company is waiting for the completion of the said formalities, before it can apply for approvals from Pollution Control Board and D O Licences. In CA/34/KOB/2020, the Appellant stated that the application for NoC submitted before the District Magistrate is under process, as the District Magistrate calls for report from different agencies like Police Department, Revenue Department and Fire Department. However, since those are internal correspondences between the District Magistrate and the various authorities concerned, the appellant will not have access to those correspondences until the NOC is given by District Magistrate. In order to show that issue of NOC is under process, the Appellant had produced a copy of the Application filed by them before the Additional District Magistrate, Kozhikode as Annexure A21. 15. I have heard the arguments advanced by the learned counsel for the Appellant through video conferencing and had gone through the report dated 06.07.2020 submitted by Registrar of Companies in the instant appeal. I have also gone through the latest Balance Sheets and Financial Statements of the Company for the year ending 31st March 2019 and also ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... es, Kochi is directed to allow for filing of the Annual Returns and Financial Statements by the company to restore the name of the Company. (iii) The Appellant Company is directed to file all the statutory document(s) along with prescribed fees/additional fee/fine as decided by Registrar of Companies within 30 days from the date on which its name is restored on the Register of Companies by the Registrar of Companies. (iv) The shareholders of the appellant company shall jointly submit an Undertaking to the Registrar of Companies stating therein that the accounts of the Company were not used as means to transact tainted money during the period of demonetization. (v) The Appellant Company is also directed to pay the costs of ₹ 50,000/- (Rupees Fifty Thousand only) to the accounts of Central Government in favour of the Pay Accounts Officer, Ministry of Corporate Affairs, Southern Region, Chennai and proof of payment be handed over to Registrar of Companies, Kerala within three weeks from the date of receipt of this order, while submitting the documents, including the documents mentioned in Annexure A8 of the Company Appeal CA/34/KOB/2020, failing which this order will ..... X X X X Extracts X X X X X X X X Extracts X X X X
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