9911796707
TMI Blog2021 (1) TMI 719X X X X Extracts X X X X X X X X Extracts X X X X ..... plus to the tune of ₹ 1.88 Lakhs, the long term borrowings also to the tune of ₹ 14 Lakhs exist apart from this, other current liabilities also exist. Such liabilities are represented by inventories, trade receivables, cash and Bank Balances and loans and advances. In the profit and loss account in the year turnover to the extent of ₹ 1.81 Crores and ₹ 1.01 Crores respectively has been shown. Thus, the name of the company needs to be restored in the Register of Companies maintained by ROC, Gwalior from the date of its striking off. However, for want of plausible explanation for non-compliance of filing of statutory returns, suitable costs need to be imposed - application allowed. - MP/Co. Appeal 22 of 2020 - - - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rns and Financial Statements since 31.03.2012 could not be filed though the company was always in operation and carrying on business. In support of such claims, our attention was drawn to the Financial Statements for the year ended 31.03.2016 and 31.03.2017. However, on a query from the Bench, regarding reasons for non-submission of such statutory returns, no satisfactory explanation could be given. 4. RoC did not appear, however, RoC filed its report wherein it has been submitted that the appeal may be allowed on merits subject to filing of all pending Financial Statements/Annual Returns with additional fee as per the provisions of Companies Act, 1956/2013. 5. We have considered the submissions made by learned counsel, as well as ROC ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ions like changing status of Company from 'Struck off to Active. (ii) The Applicant Company is directed to file all pending statutory document(s) including Annual Accounts and Annual returns for the financial years in default along with prescribed fees/additional fee/fine as decided by ROC within 45 days from the date on which its name is restored on the Register of Companies by the RoC; (iii) The Company's representative, who has filed the Company Appeal on behalf of the Applicant Company, is directed to personally ensure compliance of this order; (iv) The restoration of the Company's name is subject to the payment of cost of ₹ 25,000/- (Rupees Twenty Five Thousand Only) for each year of default through online pa ..... X X X X Extracts X X X X X X X X Extracts X X X X
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