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TMI Blog2021 (11) TMI 954X X X X Extracts X X X X X X X X Extracts X X X X ..... the same business as well as to establish the ownership of the property with the intent to save the assets of the company. Taking into consideration the provisions of section 252 of the Companies Act, 2013 and more particularly the just ground as envisaged under sub-section (3) of section 252 of the Companies Act, the name of the applicant-company is ordered to be restored in the register maintained by the respondent, subject to the directions imposed. Application allowed. - C. P. No. 13/CHE/2021 - - - Dated:- 29-9-2021 - Ms. R. Sucharitha (Judicial Member) And B. Anil Kumar (Technical Member) For the Applicant : P. James Victor Rajkumar For the Respondent : Gokul Nath , Assistant Registrar of Companies ORDER ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nts filed along with the application. 3. The company has not filed its financial statement as per the provisions of the Companies Act, 1956 since its incorporation of the company and hence the respondent had initiated proceedings under the provisions of section 560 of the Companies Act, 1956 and consequently struck off the name of the company from the register maintained by them. It is further submitted that the respondent/Registrar of Companies has dissolved the company on April 5, 2008 vide Notification No. 14 of 2008. 4. Learned counsel for the applicant submitted that the Registrar of Companies, Chennai, i. e., the respondent herein, initiated proceedings under section 560(5) of the Companies Act, 1956 without giving sufficient op ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ubject company has not filed its annual return and balance- sheet since the incorporation of the company. (b) The subject company and its directors ought to have filed statutory returns in compliance with the provisions of the Companies Act. But the company has not filed financial statements as per the provisions of the Companies Act, 1956 since the incorporation of the company. (c) The Registrar of Companies had refuted the averment made in paragraph (d) of the petition, it is further submitted that the Registrar of Companies has followed all the procedural compliances before striking off from the Register of Companies. Thereafter the name was struck off from the register and the same was published in the Gazette of India dated April ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... decide what would be just and equitable. In M. A. Rahim v. Sayari Bai MANU/TN/0218/1973 ; AIR 1973 Mad 83 it was held by a Division Bench of the Madras High Court that the word 'just' connotes rea sonableness and something conforming to rectitude and justice, something equitable and fair. In Siddhant Garg v. Registrar of Companies [2012] 171 Comp Cas 326 (Delhi) it was held by this court (Manmohan J.) that the word 'just' would mean that it is fair and prudent from a commercial point of view to restore the company and that the court has to examine the concept of 'justness' not exclusively from the perspective of a creditor or a member or a debtor, but from the perspective of the society as a whole. 10. Thus, tak ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... are made by the company, the company shall not alienate or dispose of any of its valuable assets. (v) It is further observed that by virtue of this order of restoration of the name of company in the register it will not entitle the directors of the company whose names in case have been disqualified by virtue of provisions of section 164 of the Companies Act, 2013 by the respondent/ Registrar of Companies automatically to be restored to directorship except in accordance with law. (vi) An affidavit of compliance with the aforesaid directions shall be filed by the applicant within a period of 2 months from the date of this order. (vii) The shareholders of the applicant-company shall jointly submit an undertaking to the Registrar of Co ..... X X X X Extracts X X X X X X X X Extracts X X X X
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