9911796707
TMI Blog2020 (12) TMI 1089X X X X Extracts X X X X X X X X Extracts X X X X ..... ng Director, Director or other persons in charge of the management of the Company. Though the impugned striking off the Company was in accordance with law, the Tribunal has to take into consideration of bona fide contentions of Petitioner seeking to restore 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 left the issue to Tribunal to consider the case subject terms and conditions. It is true, while exercising jurisdiction of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Act, 1956 on 07.09.2001 vide CIN:U74300KA2001PTC029507. Its Authorised Share Capital of the Company is ₹ 1,00,000/-(Rupees One Lakhs Only) divided into 10,000 (Ten Thousand) Equity Shares of ₹ 10/- (Rupees Ten) each and Paid-up Share Capital of the Company is ₹ 1,00,000/- (Rupees One Lakhs only) divided into 10,000 (Ten Thousand) equity Shares of ₹ 10/- (Rupees Ten) each. The Company is engaged in the business of production of sponsored programmes, TV Serials, TV Commercials, Corporate Films, distributors, agents and other media and marketing related activities. (2) Shri Kalengada Bhemaiah Chinapa (the Applicant/Petitioner herein) is Shareholder of the Company, holding 5000 Equity Shares. The Directors of the Comp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion for making the Company as dormant Company. It had became very difficult for them to run the business of the Company where in the Applicant is holding the position of Director since there is no valid board in those Companies due to disqualification of Directors of the Company. (5) The Directors of the Company accept the fact that the Company has defaulted in filing the Financial Statements and the Annual Returns of the Company for the Financial Years 2014-2015, 2015-2016, 2016-2017, 2017-2018 and 2018-2019 i.e. for the last five years. However, the Directors of the Company disagree on the fact that the Registrar has reasonable cause to believe that the provisions of the Companies Act, 2013 i.e. Section 96, 129 are not complied. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tices 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 defaulting Companies were crystallized, the Respondent proceeded to strike of the name of the Company from the Register of Companies and published a Notice in STK-5 in the Official Gazette on 20.05.2017 stating that from 05.05.2017 names of the Companies mentioned therein including the Petitioner Company have been struck off from the Register of Companies as per Sec. 248(5) of the Act. The Respondent has complied with all the procedure prescribed U/s. 248 of the Companies Act, 2013 before removal of the name from the register. (4) It is declared that there is no inquiry, in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... een 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. Though the impugned striking off the Company was in accordance with law, the Tribunal has to take into consideration of bona fide contentions of Petitioner seeking to restore 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; ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... om 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 Petition, is directed to personally ensure compliance of this order; (4) The restoration of the Company's name is also subject to the payment of cost of ₹ 10,000/- (Rupees Ten 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. (5) The Petitioner is permitted to deliver a certified copy of this order to the Registrar of Companies; (6) On such delive ..... X X X X Extracts X X X X X X X X Extracts X X X X
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