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TMI Blog2019 (8) TMI 1625X X X X Extracts X X X X X X X X Extracts X X X X ..... to the restoration of the name of the Company, has been raised - It is therefore, held that the ingredients provided for in Section 252(3) of the Act, are satisfied. The name of the company be restored in the Register of Companies, subject to deposit of ₹ 40,000/- as costs with the Pay and Accounts Officer, Ministry of Corporate Affairs within a period of three weeks from the receipt of certified copy of this order - petition allowed. - CP No. 141/Chd/J&K/2018 - - - Dated:- 2-8-2019 - Ajay Kumar Vatsavayi, Member (J) And Pradeep R. Sethi, Member (T) JUDGMENT Ajay Kumar Vatsavayi, On the last date of hearing on 31.07.2019, the members of the Bar abstained from work. The present petition in Form No. NCLT-9 is f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 900 8. Surya Smeltors Pvt.Ltd. 900 9. Dubey Oxygen Pvt.Ltd. 900 Total 6,00,000 3. The certificate of incorporation of the Company is at Annexure -3 (Colly) of the petition. The authorized capital, issued, subscribed and p aid up capital of the Company is stated to be '60,00,000/- divided into 6,00,000 equity shares of '10/- each. The Memorandum and Articles of Association are a part of the record. The main objects of the Company are as under :- To carry on the business activities as developers of land, colonies, sheds, buildings, multiplexes, str ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... at Serial No. 210 in the Form STK-7. 5. It is submitted that the Company is active since its incorporation and is a going concern; maintaining all requisite documentation and having its accounts being timely prepared. It is also stated that the petitioner company has last filed its Financial Statements / Annual Returns with the Registrar of Companies for the financial year 2014-15. The same fact could be verified from the master data of the company, being appended with the petition. 6. It is further deposed that the non- filing of statutory documents with the Registrar of Companies was due to the fact of pendency of litigation with Jammu Development Authority, which has allotted some industrial land to the company, measuring 9 kanals ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n prayed that the Company may be directed to prove that it was carrying on business or was in operation and that it is just that the name of the Company be restored to the Register; the company be directed to file the financial statements up to date; costs be awarded in favour of the ROC. 11. Dr. Ruveda Salam, Assistant Commissioner of Income Tax, Circle-1, Jammu in its report has submitted that there is no outstanding demand against the company and the income tax returns pertaining to the Assessment Year 2016-17 is pending with the CPC for processing as of now. 12. We have carefully considered the submissions and have also perused the record. 13. The relevant Section 252(3) of the Act is as follows: - (3) If a company, or any ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed in ' 2014-15 NIL 2015-16 NIL 2016-17 NIL 16. As per Annexure P-11 (Colly) of the petition, Income Tax Returns are stated to be filed for the Assessment years 2016-17 and 2017-18. The gross total income for the assessment years are as under :- Assessment Year Gross total income in (') Date of filing 2016-17 (17,927) 02.02.2018 2017-18 (30,139) 02.02.2018 17. The statement of account from 01.01.2017 to 14.12.2017 of the Company wit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... no objection to the restoration of the name of the Company, has been raised. 20. It is therefore, held that the ingredients provided for in Section 252(3) of the Act, are satisfied. 21. In view of the above, the petition is allowed and the name of the company be restored in the Register of Companies, subject to deposit of ?40,000/- (Rupees Forty Thousand) as costs with the Pay and Accounts Officer, Ministry of Corporate Affairs within a period of three weeks from the receipt of certified copy of this order. Further directions are issued as under: - a) The petitioner shall deliver a certified copy of the order to the Registrar of Companies within 30 days from the date of receipt of certified copy of this order; b) On such deliver ..... X X X X Extracts X X X X X X X X Extracts X X X X
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