9911796707
TMI Blog2021 (1) TMI 985X X X X Extracts X X X X X X X X Extracts X X X X ..... ellant Company in the register of the Registrar of Companies, NCT of Delhi and Haryana (RoC). 2. As per the averments, M/s. Suvidha Polymers Private Limited was incorporated as a Private Limited Company on 05.11.2001 with CIN No.U24119DL2001PPC1 13029 and having its registered office at 148-F, Pocket-IV, Mayur Vihar, Phase-I, Delhi 110091, within the jurisdiction of this Tribunal. 3. It is submitted by the Appellant Company that the Main objects of the Appellant Company, inter alia, are as under : "To Manufacture, Produce, Refine, process, formulate, buy, sell, export or import or otherwise deal in all classes and kinds of chemical including without limiting the generality of the foregoing thinner, reducer, petrosol, and all ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... epartment has filed its Report and has reconfirmed this fact from their records that 'nil' taxes were paid or negative income was shown by the Appellant Company for the Assessment Years from 2012-13 to 2017-18. 7. That the RoC has filed its report and has submitted that : "6. That the Respondent most respectfully submits that the present company was strike off by the office of Respondent because of the fact that as per the records of office of Respondent neither the company was carrying on any operation for a period of two immediately preceding financial years for obtaining the status of a Dormant Company under Section 455 of the Companies Act 2013. " 8. That the 'NIL' revenue from operations in Balance Sheet ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that the Company was at the relevant time carrying on business or in operation, the Tribunal had vast powers to order restoration of Company on the ground "or otherwise". This term "or otherwise" has been judiciously used by the legislature to arm the Tribunal to order restoration of a struck off company within the permissible time limit to take care of situations where it would be just and fair to restore company in the interest of company and other stakeholders. Such instances can be innumerable. However, this term "or otherwise" cannot be interpreted in a manner that makes room for arbitrary exercise of power by the Tribunal when there is specific finding that the Company has not been in operation or has not been carrying on busine ..... X X X X Extracts X X X X X X X X Extracts X X X X
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