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TMI Blog2020 (1) TMI 1394X X X X Extracts X X X X X X X X Extracts X X X X ..... holetime Director of C & S Townships Private Limited (hereinafter referred to as the 'petitioner' or 'company') under Section 252(3) of the Companies Act, 2013 (hereinafter referred to as the 'Act') seeking restoration of the name of the Company in the Register of Companies. The master data of the Company is at Annexure 9 i.e. page 97 of the Petition. The CIN of the Company is U45400PB2009PTC033234. As per the master data of the petitioner-company, the company was incorporated on 14.09.2009. The registered address of the petitionercompany is 1400/28, Swami Building Bagh Ramanand, Amritsar- 143001 which falls in the State of Punjab and therefore, the matter lies within the territorial jurisdiction of this Tribunal. 2. The petition is accomp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is stated to be struck off from the Register of Companies, under the provisions of Section 248(5) of the Act, as per the Form STK-7 dated 11.09.2019. The name of the Company is stated to be at Serial No.146 in the Form STK-7 (Annexure II of the ROC Report). 5. It is submitted that the petitioner-company is active since its incorporation and has also been maintaining all the requisite documentation, as per the provisions of the Companies Act, 2013. It is also stated that it has also held and convened its Annual General Meeting regularly. 6. It is further submitted that the petitioner-company inadvertently failed to file the financial statements with the ROC and has filed its Income Tax Returns regularly, which are stated to be appended wit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ner company with the Income Tax Authorities. 9. The Company has submitted that in the event of restoration of the name of the Company in the Register of Companies, the Company shall file all outstanding statutory documents. 10. During the course of hearing, the learned counsel for the petitioner-company pleaded that the conditions provided for in Section 252(3) of the Act, are satisfied and that the Company was carrying on business and was having revenue from operation at the point of time when name of the Company was struck off from the Registrar of Companies. 11. We have heard the learned counsel for the petitioner and the learned counsel for the Income Tax Department and have also perused the record. 12. The relevant Section 252(3) o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... al years 2015-16 to 2017-18 have been filed as Annexure A-4 to A-6 of the petition. The year wise details of revenue from operations for the last 4 years are as follows:- Year Revenue from operations (Rs. ) Other Incomes (Rs. ) 2014-15 43,28,500/- NIL 2015-16 39,07,500/- 37,500/- 2016-17 NIL 10,000/- 2017-18 5,29,000/- NIL 15. As per Annexure A-7 of the petition, Income Tax Returns are stated to be filed for the assessment years 2016-17, 2017-18 and 2018-19. The gross total income for the assessment years 2016-17, 2017-18 and 2018-19 is stated to be Rs. 1,47,841/-, NIL and NIL, respectively. The date of filing of the Income Tax Returns for all the assessment year is before the date of striking of the name of t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Affairs within three weeks from the date of receipt of certified copy of this order; e) The company shall file pending financial statements and Annual Returns with the Registrar of Companies and comply with the requirements of the Companies Act, 2013 and rules made thereunder within one month of the notification of restoration of the company's name in the Register of Companies; f) The Registrar of Companies will be at liberty to proceed against the company and its officers for the delay in filing of the Balance Sheets and Annual Returns for the years in default; and g) The Income Tax Department may take necessary action as per law for non-filing or belated filing of the Income Tax Returns of the Company for any of the assessment year ..... X X X X Extracts X X X X X X X X Extracts X X X X
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