9911796707
TMI Blog2020 (12) TMI 1022X X X X Extracts X X X X X X X X Extracts X X X X ..... alia seeking restoration of the name of the Company and allow the Company to file forms under the Companies Fresh Start Scheme, 2020, etc. 2. Brief facts of the case, as mentioned in the Company Petition, which are relevant to the issue in question, are as follows: (1) M/s. Inactive.com Media Solutions Private Limited ('the Company') was incorporated under the Companies Act, 1956, on 24.09.2008, vide CIN: U72200KA2008PTC047839, as a Private Company limited by its shares with the Registrar of Companies, Bengaluru, Karnataka. Its registered office is situated at Flat 4b, HVS Apartments, No. 1, Edward Road Bangalore -560052. The Authorised Share Capital of the Company is Rs. 2,00,000/- divided into 20,000 equity shares of Rs. 10/- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hareholders, directors and the employees too. The Company is in the Information Technology space and it brings in valuable foreign exchange. (4) It is also stated that in the current scenario the COVID-19 crisis has caused significant disruption and hardship to Human's daily lives and created large unemployment, if the name of the Company is restored, the business operations of the Company could be carried out, and the Company would generate revenue which in turn results in generation of employment opportunities and revenue to the Government by way of taxes. The Government of India, MCA, has come forward to facilitate Companies to set right certain filing related defaults, irrespective to duration of default and make a fresh start as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Companies mentioned therein including the Petitioner Company have been struck off from the ROC as per Section 248(5) of the Companies Act, 2013. (3) It is declared that there is no inquiry, investigation and Complaints against this Company and expressed no objection to restore the name of Company, as prayed for, however, subject to payment of cost since huge expenditure is incurred in restoring the name of the Company, and complying with pending statutory returns. 4. Mr. Pramod S.M., learned PCS for the Petitioner appeared and was heard through Video Conference. We have carefully perused the pleadings of the Party and extant provisions of the Companies Act, 2013, and the Rules made thereunder. 5. Reiterating the facts as submitted ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... re the name of Company, by taking a lenient view of the issue in the interest of justice and ease of doing business, instead of rigidly interpreting the law on the issue. It is also not in dispute that the instant Company Petition is filed in accordance with law; there are no investigations pending against the Company; the Respondent has not opposed the Petition and has left the issue to the Tribunal to consider the case subject to certain terms and conditions. (1) It has been submitted that the Company is a going concern and the profit before tax is Rs. 4,64,31,339/- for the Year Ended 31st March, 2019. Striking of its name would affect the Petitioner as well as its Directors, Shareholders and employees and also suffer hardship and irrep ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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; c. The Company's representative, who has filed the Company Petition, is directed to personally ensure compliance of this order; d. The restoration of the Company's name is subject to the payment of cost of Rs. 30,000/- (Rupees Thirty Thousand Only) to be paid online to the account of Central Government in favour of the Pay & Accounts Officer, Ministry of Corporate Affairs, Southern Region, Chennai, within three weeks from the date of receipt of this order, failing which the order will lapse; e. The Petitioner is permitted to deliver a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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