9911796707
TMI Blog2020 (12) TMI 707X X X X Extracts X X X X X X X X Extracts X X X X ..... l years and has not made any Application within such period for obtaining the status of a dormant Company U/s. 455. However, Section 248(6) states that the Registrar of Companies, before finally striking off Company, has to satisfy himself that sufficient provision has been made for the realization of all amounts due to the Company and for the payment or discharge of its liabilities and obligations by the Company within a reasonable time, and, if necessary, obtain necessary undertakings from the Managing Director, Director or other persons in charge of the management of the Company. It is true, while exercising jurisdiction of the Tribunal under the provisions of Companies Act, 2013, the Tribunal has to take into consideration the grave ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s only) divided into 10,000 (Ten Thousand only) Equity Shares of ₹ 10/- (Rupees Ten only) each. The Company is engaged in the business of an investment, leasing, hiring and a finance Company etc. (2) Ms. Donthi Sreedhara Shyalaja Ms. Donthi Sreedhara Rashmi (Applicants/Petitioners herein) are Directors/Shareholders of the Company, and holding 5000 Equity Shares each. (3) The Company has been maintaining a Bank Account in the Syndicate Bank, Basavanagudi Branch, is active till date in which the Company is receiving dividends from the Companies in which it has made the investments. The Company has filed returns with the Registrar of Companies up to the year ending 31.03.2005, later as the Company was making loss due to lack ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 00/- as on the present date. The Business of the Company had come to a standstill due to the ill health of one of the Promoter who was in charge for promotion of business of the Company after which the Company started making losses and the other promoters could not effectively run the Company but kept the Company alive with no employees on rolls. (6) The Directors of the Company are disqualified U/s.164 of the Companies Act, 2013, due to the non-filing of the returns for a continues period of 3 years, but the DINS of the Director have lapsed and none of the Directors name appear in the Master Data of the MCA website. Only Two shareholders, further none of the Banks/Financial Institutions have lent to the Company. Even though the non-fi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pany, it was inter alia mentioned that the Petitioner Company has not been carrying on any business or operations for two immediately preceding financial years nor has filed Application under Section 455 of the Companies Act, 2013 and that the Respondent proposes to strike off the name of the Company from the Register of Companies as per Section 248 of the Said Act, unless a cause is shown to the contrary within 30 days from the date of receipt of the STK-1 notices. (3) Since no cause was shown either to the physical notices or to the website, Gazette and newspaper notices either by the Company or its Directors, and also since no Balance Sheet or Annual Return was filed by the Petitioner Company till the day on which the list of defaul ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in dispute that the Registrar of Companies is conferred with power U/s. 248(1) to strike off the Company, if the Company has failed to commence its business within one year of its incorporation or a Company is not carrying on any business or operation for a period of two immediately preceding financial years and has not made any Application within such period for obtaining the status of a dormant Company U/s. 455. However, Section 248(6) states that the Registrar of Companies, before finally striking off Company, has to satisfy himself that sufficient provision has been made for the realization of all amounts due to the Company and for the payment or discharge of its liabilities and obligations by the Company within a reasonable time, and, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ollowing directions: (1) The Registrar of Companies, Karnataka, the Respondent herein, is ordered to restore the name of the Company in the Register maintained by the Registrar of Companies, Karnataka as if its name had not been struck off from the rolls of the Register, with restoration of all consequential action taken by Registrar of Companies, which includes restoration of DINs of its Directors. (2) The 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; (3) The Company's representative, who has filed the Company ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
