9911796707
TMI Blog2021 (1) TMI 722X X X X Extracts X X X X X X X X Extracts X X X X ..... been filed. Further, the counsel for the Applicant has also submitted copies of Assets and Liabilities, Revenue figures, profit/loss figures for various years based on the Audited Financial Statements, from which it appears that the Applicant's Company has been doing business but failed to file Annual Returns and Income Tax Returns due to oversight and unintentional. The provisions of Section 252(3) of the Act stipulate that this Tribunal may direct restoration of a Company's name, if it is just and equitable to do so. In view of the above evidence, refusal to restore will be an excessive penalty for the over-sight on the part of the Applicant's Company - this Tribunal is of the opinion that it would be just and proper to ord ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ll other persons in the same position as nearly as may be as if the name of the company had not been struck off from the register of companies. c) Direct Respondent to reactivate the DIN's of the Directors of the Company. d) Direct the Applicant to deliver a copy of the order of this Hon'ble National Company Law Tribunal within thirty days from the date of receipt of the order as required under rule 87A(4)(a). e) Direct the Respondent to publish the order of this Hon'ble National Company Law Tribunal in the official Gazette as required under rule 87A(4)(b). f) Grant a time of 30 days from the date of restoration to the Applicant Company to file the pending Financial Statements and Annual Returns. g) Any ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... urns only for the period of 2018-2019, The Respondent i.e., (RoC, Hyd) has therefore initiated action under Section 248 of the Companies Act, 2013 (hereinafter referred to as 'the Act') for striking off the name of the Applicant's Company from the Register of Companies and consequently the name of the Applicant's Company was struck off from the Register of Companies vide Notice No. ROC(H)/248(5)/STK- 7/2017 dated 21.07.2017 after publication of public notice in the Gazette of India dated 27.05.2017 03.06.2017 under Sl. No. 5142. Therefore, the present Application is filed for restoration of the name of the Applicant Company in the Register of Companies maintained by Registrar of Companies, Hyderabad, Telangana i.e., the Re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ment vide A/c. No: 510101007035450 Corporation Bank, Gachibowli Branch, Hyderabad are also enclosed. h. The Applicant undertook to ensure to file all the pending documents/statutory returns in respect of the Applicant's Company along with fee and additional fee as prescribed under the provisions of the Companies Act, 2013 once the name of the Company is restored in the Register of Companies. The Applicant further undertook to ensure the statutory compliance with the applicable provisions of the Companies Act, 2013 in time, in future, without any further delay and prayed for an order directing the RoC for restoration of the name of the company in the Register of companies, so as to enable the company to file the relevant documents. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ispose the instant application on merits: Para 9(2): The Company had defaulted in filing the financial statements and annual returns for more than 2 years and hence identified for strike off u/s 248(1). Accordingly notice under section 248(1) was issued to the company and its directors. Further STK-5 notice dated 19-08-2019 was issued and same was published in the Government of India Gazette. Newspaper publication was made informing all the stakeholders about the list of companies published in the website. Finally the company was struck off and STK-7 notice dated 17-10-2019 also published in the Gazette. Para 9(3): That as on the date of STK-5 notice on 19-08-2019 and as on the notice of STK-7 on 17-10-2019 the applicant has not fi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ation of a Company's name, if it is just and equitable to do so. In view of the above evidence, refusal to restore will be an excessive penalty for the over-sight on the part of the Applicant's Company. 3. Accordingly, having satisfied with the reasons as mentioned in the Application as also on the perusal of RoC's report dated 25.08.2020 vide no. ROCH/LEGAL/SEC252/050350/BIL/JTA(S)/2020/445, this Tribunal is of the opinion that it would be just and proper to order the restoration of name of the Applicant's Company in the Register of Companies, maintained by the RoC Hyderabad, Telangana. 4. The Applicant shall file all the pending Financial Statements and Annual Returns with RoC as per the Act and Rules made thereunder ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
