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TMI Blog2021 (4) TMI 1072X X X X Extracts X X X X X X X X Extracts X X X X ..... 013, and Rule 87-A of NCLT (Amendment) rules 2017, R/w. NCLT Rules, 2016 and basing on the assurance given by the Learned representative for Applicant Company would be making good all pending statutory compliances on restoration of the Company, it seems to be a fit case to order restoration of the Company by RoC (H) in the interest of the Company, its shareholders and the Creditors. The Registrar of Companies, the respondent herein, is ordered to restore the original status of the Company as if the name of the company has not been struck off from the Register of Companies - application allowed. - CA No. 319/252/HDB/2020 - - - Dated:- 30-3-2021 - Bhaskara Pantula Mohan, Member (J) And Veera Brahma Rao Arekapudi, Member (T) For t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... c. It is averred that the Petitioner Company has not filed the financial statements and annual returns for the financial years from 2005-2006 to 2018-2019 inadvertently, with the Registrar of Companies, Telangana due to financial crisis. It is averred that the Company is into real estate business, some properties were left over after the sale, which having a reasonable demand for the left over properties. The details of the said properties are annexed herewith as Annexure 5. d. It is averred that the Company could not file any returns due to liquidity problems and the same will be filed as soon as the Company status become Active. The failure on the part of the Company in filing the financial statements and Annual returns and not resp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y Revenue from Operations is zero and not carrying any business. 6. Respondent further averred that ITR Acknowledgments for the Assessment years 2007-08 and 2010-11 are enclosed but for the remaining pending years not enclosed with the petition. 7. Petitioner Company filed Compliance memo dated 24.03.2021 with regard to the observation (ITR Acknowledgement) made by the respondent. FINDINGS: 8. We heard the Learned counsel appearing for the Applicant Company and perused the documents on record. It is submitted by the Applicant Company that the Company is in operation and is carrying on its business. The failure of the Company in filing the statutory returns and statements was due to inadvertence. Report of the RoC has been receiv ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l actions like change of company's status from 'struck off to Active (for e-filing), to restore and activate the DINs if applicable, to intimate the bankers about restoration of the name of the company so as to defreeze its accounts. 2. The Applicant company is directed to file all the statutory document(s) along with INC-28 and prescribed fees/additional fee/fine as decided by RoC within 30 days from the date on which its name is restored and personally ensure compliance of this order. 3. The Applicant Company is directed to comply with the observations/clarifications as required by the ROC, 4. Hyderabad. 5. The Company is permitted to deliver a certified copy of this order with ROC within thirty days of the rec ..... X X X X Extracts X X X X X X X X Extracts X X X X
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