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TMI Blog2021 (1) TMI 347X X X X Extracts X X X X X X X X Extracts X X X X ..... rial on record that at the time its name being struck off, the Company was doing its business or carrying its operations - In this case, the applicant produced on record the copy of Audited Annual Accounts for all defaulting years. As per the audited reports of the Profit and Loss accounts of the Company, it is evident that the Company has not been generating any revenue from its operations and has incurred losses in all the defaulting years. Financial Statements do not suggest any business transactions for which the Company was incorporated. There is no material consumed, or work in progress or debtors or Finance cost. There are no expenses in respect of the Employee benefits, which indicate that the Company had nobody in its employmen ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rments, the Company is a Private Limited Company, limited by shares under the provisions of the Companies Act, 2013. The authorised share capital of the Company is ₹ 10,00,000/- (Rupees Ten Lakh only) divided into 1,00,000/- (One Lakh only) Equity Share of ₹ 10/- (Rupees Ten only) each. The issued, subscribed and Paid-up Equity Share capital of the Company is ₹ 1,00,000/- (Rupees One Lakh only) divided into 10,000/- (Ten Thousand) Equity Shares of ₹ 10/- (Rupees Ten only). During the relevant time, the Company managed by two directors namely, Sri Rakesh Ashis (DIN 07220622) and Sri Nitush Kumar Behera (DIN 07220616) to carry out objectives of the Company. 3. The main objects of the Company are:- (i) To carry ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r, pipe lines, underground cables, railway tracks, railway sidings ,run ways ships yards, stock yards, culverts. Channels whether on turnkey basis or on labour contracts or otherwise. 4. The appellant states that the Company is a going concern, carrying its business. The Registrar of Companies, Odisha i.e. the Respondent herein, struck off the petitioner company's name from the Register under Section 248(5) of the Companies Act, 2013 without giving any prior notice and opportunity of presenting the case of the company. The company came to know about the public Notice No: ROC/STK (7) dated 24.10.2019 that the name of the Company has been struck off and the company is dissolved. This has caused irreparable loss to the company, its sh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e of aforesaid Company from his Register and published the same in Form No. STK-7 in the Official Gazette dated 02.11.2019 and on the publication of such Notice in the Official Gazette, the Company stood dissolved on and from 24.10.2019. The Hon'ble NCLT Cuttack Bench may consider the application/petition preferred under Section 252(3) of the Companies Act, 2013 on its own merits as deemed fit and proper on the basis of documentary evidence placed by the petitioner in support of the submission made therein and the petitioner may be put to strict proof of contention made therein that at the time of its Striking Off the company was in operation. 7. We perused the available records. We also heard the Learned Counsel appea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 10. Financial Statements do not suggest any business transactions for which the Company was incorporated. There is no material consumed, or work in progress or debtors or Finance cost. There are no expenses in respect of the Employee benefits, which indicate that the Company had nobody in its employment during the defaulting years. 11. The Appellant has not submitted the details of Bank Account or GST Certificate, Rent Agreement, any document in relation to existence of its registered office nor any Income Tax Return or any sale and purchase invoices details, which support his contention that the company was a running entity when the name of the company was struck off. This prima facie suggests that the Company was not d ..... X X X X Extracts X X X X X X X X Extracts X X X X
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