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TMI Blog2021 (8) TMI 12X X X X Extracts X X X X X X X X Extracts X X X X ..... egister of Companies and take all consequential actions like change of company's status from 'Strike off to Active (for e-filing) and to intimate the; bankers about restoration of the name of the company so as to defreeze its accounts - Application allowed. - CA No. 15/252/HDB/2021 - - - Dated:- 9-7-2021 - M. B. Gosavi, Member (J) And Veera Brahma Rao Arekapudi, Member (T) For the Appellant : G. Sumathi , Advocate ORDER 1. This is a Company Application No. 15/252/HDB/2021 filed under Section 252(3) of the Companies Act, 2013 (hereinafter referred to as the 'Act') filed by Mr. Prathipati Kalyan Chakravarthi, who is the Director and Shareholder of M/s. Forefront Builders Private Limited (hereinafter referred ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... bricks, wood, sanitary and electrical materials, lime, stones and products made thereof. A copy of the Memorandum and Articles of Association of the Company is annexed as Annexure-1 at page nos. 27 to 50 of the application. C. The Authorised Share Capital of the Company is ₹ 20,00,000/-(Rupees Twenty Lakhs only) divided into 20,000 Equity Shares of ₹ 100/-. The issued, subscribed paid-up capital of the Company is ₹ 14,00,200/- (Rupees Fourteen Lakhs Two Hundred only) divided into 14,002 equity shares @ ₹ 100/-. The shareholding pattern of the company as on 31.03.2020 is shown at page 6 of the application. d. It is the case of the Applicant that the Company did not file its Annual Returns and Financi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... j. The Applicant stated that the Application is within the limitation under Section 252(3) read with Section 433 of the Act. k. The Applicant enclosed the following documents giving justification/substantiating that the Company has been operational as under:- i. A copy of Certificate of Incorporation of the Company and Memorandum Articles of Association of the company; ii. Copies of Audited Financial Statements of the Company for the Financial Years from 2009-10 to 2019-20; and iii. Affidavit verifying no tainted money is deposited in the Bank Accounts during Demonetization Period. 3. The Registrar of Companies Hyderabad/Respondent herein denied all the averments made in the Application except those which are ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... iv. The Respondent stated that the Applicant has not filed or attached the Audited Balance Sheet as at 31.03.2008 31.03.2009 and also has not stated about the non-filing of the Balance Sheet or Annual Return for the years as at 31.03.1998 to 31.03.2005. v. The Respondent stated that Paid-up capital as per MCA records is ₹ 14,00,000/- while as per Balance Sheet as at 31.03.2010 to 31.03.2020 is ₹ 14,00,200/-, so clarification needs to tie given. vi. The Respondent stated that the Applicant has stated that in the application at para no. 4.22 as the company was unable to file its ITRs for the Assessment Years 2007-2008 to 2019-20 due to the company status was struck off but actually the company was struck off on 2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nded that, the Company is doing its business as a going concern basis. The Counsel for Applicant further stated that the Company would file necessary Financial Statements and Annual Returns soon after restoration of the name of the Company with the Registrar of Companies, Hyderabad and prayed the Tribunal to revive this Company. 6. Further, we have seen the latest Balance Sheet as on 31st March 2020 and Financial Statements for the year ending 31st March, 2020 of the Company. The Company is having Total Assets of ₹ 23,77,177/- and Revenue from Operations ₹ 6,10,000/-. 7. After hearing the Learned Counsel for Applicant and after perusal of material documents on record, the report of the RoC, Hyderabad and after going throug ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... port before restoring the name of the Company in the Register of Companies. 5) The Company is directed to file all the statutory document(s) along with prescribed fees/additional fee/fine as decided by RoC within 30 days from the date on which its name is restored on the Register of companies by the ROC; 6) The Company's representatives, who have filed the Company application is directed to personally ensure compliance of this order. 7) The restoration of the Company's name is also subject to the payment of cost of ₹ 1,30,000/- (Rupees One Lakh Thirty Thousand only) through online payment in www.mca.gov.in in under miscellaneous fee by mentioning particulars as payment of cost for revival of Company pursuant to ..... X X X X Extracts X X X X X X X X Extracts X X X X
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