9911796707
TMI Blog2021 (1) TMI 450X X X X Extracts X X X X X X X X Extracts X X X X ..... to the Registrar of Companies, Kochi (hereinafter called as the 'ROC') to restore the name of the Company in the Register of Companies, maintained by the Registrar of Companies, Kochi, for the State of Kerala and Lakshadweep. The appellant company was incorporated on 26th March, 2012 under the Companies Act, 1956. The Corporate Identification Number (CIN) of the Company is U72200KL2012PTC030863 having its Registered Office at TC 26/1842, GPO Lane, Statue, Thiruvananthapuram- 695 001, Kerala. 2. As per the Memorandum of Association, the main business of the Appellant Company is: "To carry on the business of information technology, information technology enable services, Software designing, development, customization, implementation maint ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he position themselves as the directors of appellant Company, during the legal proceedings adverted to above, there was complete deadlock in the Board and the Board of Directors of the Company could not finalize the accounts and financial statements from 2016 onwards. Due to the reasons aforementioned, from 2016 onwards there was no one to take care of the business issues and embroiled in the pending legal proceedings, which was recently been compromised by the parties. The Company defaulted in all its liabilities to its creditors and failed to meet its compliance issues. The company could not hire any professionals to look into its affairs due to financial crunch. 6. It is further submitted that the balance sheets and the provisional bala ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Annual Returns since 2015 and had not applied for getting dormant status. It is also stated that as per provisions of Section 137 of the Companies Act, 2013, Financial Statements for the period ending 31.03.2016, 31.03.2017 and 31.03.2018 were due to be filed on or before 30.10.2016, 30.10.2017 and 30.10.2018 respectively. Similarly, as per provisions of Section 92 of the companies Act, 2013 Annual Returns for 2016, 2017 and 2018 were due for filing on or before 30.11.2016, 30.11.2017 and 30.11.2018 respectively. ROC further stated that the subject company has violated the provisions of Sections 92/137 of the Companies Act, 2013, as the case may be. 10. In the Report of RoC, it is further stated that notice under Section 248 (1) of the Co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t through video conferencing and had gone through the report received on 16.10.2020 from the Registrar of Companies in the instant appeal. Even though sufficient opportunities were given to the appellant to produce the latest Balance Sheets and Financial Statements of the Company for the year ending 31st March 2019 and also the Income Tax Return Acknowledgment for the Assessment Year 2019-20, they have not produced the same. 13. The provision pertaining to the restoration of the name of the Company as provided in Section 252 (3) is reproduced below: Section 252(3) : (3) If a company, or any member or creditor or workman thereof feels aggrieved by the company having its name struck off from the register of companies, the Tribunal on an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ame of the company so as to defreeze its accounts. The Registrar of Companies, Kochi is also directed to allow for filing of the Annual Returns and Financial Statements by the company to restore the name of the Company. ii. It may be noted that since the Appellant has not produced the latest Balance Sheets and Financial Statements of the Company for the year ending 31st March 2019 and also the Income Tax Return Acknowledgment for the Assessment Year 2019-20, any action for restoration of the company by the RoC shall be taken only after producing the same before him. iii. The Appellant Company is directed to file all the statutory document(s) along with prescribed fees/additional fee/fine as decided by Registrar of Companies within 30 da ..... X X X X Extracts X X X X X X X X Extracts X X X X
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