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TMI Blog2021 (1) TMI 345X X X X Extracts X X X X X X X X Extracts X X X X ..... taining 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 - Though, the impugned order striking off the Company was in accordance with law, the Tribunal has to take into consideration the bona fide contentions of Petitioner seeking to restore the name of Company, by taking a lenient v ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Read with Rule 87A of the NCLT (Amendment) Rules, 2017, by inter alia seeking for 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. RSRSR Techno Solutions Private Limited ('the Company') was incorporated under the Companies Act, 1956, on 14.05.2009, vide CIN: U72211KA2009PTC049848, as a Private Limited Company registered with the Registrar of Companies, Bengaluru, Karnataka. Its registered office is situated at J-108, Old No. 70/1/7, 10th Cross, Lakshmi Narayan Puram, Sriram Puram, Bangalore - 560021. The Authorised S ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... awn. The bank account was also closed after payment of banking charges and withdrawal of the amount deposited. (5) The ROC issued a notice dated 13.02.2017 to the Company under Section 92 and 96 read with Section 403 of the Companies Act, 2013 for non-filing of Annual Returns and Financial Statements for the FY ending 31.03.2014. The said notice was received by the Company on 13.02.2017. Since the business did not materialize, Petitioner bonafidely lost track of his subscription to the shares of the Company and consent to act as director of the Company. In these circumstances, the Petitioner could not file the Annual Returns and Financial Statements. (6) It is also stated that the RSRSR is desirous to file necessary documents alon ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Company is not restored on the rolls of the ROC, the Petitioner and directors of the Company cannot become director of any company in India till 31.10.2019 and thereby cannot carry on business. Hence, this Petition to restore the Company to enable the Petitioner to file all pending documents and explore other business opportunities for the Company. 3. The Registrar of Companies, Karnataka, has filed a Counter Affidavit dated 08.09.2020. He has not opposed the Petition, Apart from what has already been mentioned in the Company Petition, he has further stated, inter alia, as under: (1) Due to non-filing of the Balance Sheets and the Annual Returns from the year 2016-17. The ROC issued notices in Form STK-1 dated 17.03.2017 and SK ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t of justice. 6. It is not in dispute that the Registrar of Companies is conferred with power U/s.248(3) 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 wi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the Registrar of Companies, Bangalore, the Company will complete the Annual filings due for the past years and carry on the business in its ordinary course. Therefore, we are of the considered view that the interest of justice would be met if the name of Company is restored as prayed for, subject to conditions mentioned below. 9. Hence, by exercising the powers conferred upon this Tribunal u/s. 252 of the Companies Act, 2013, C.P. No. 106/BB/2020 is hereby disposed of with the following directions: a. The Registrar of Companies, Karnataka, the Respondent herein, is directed 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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