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TMI Blog2022 (5) TMI 927X X X X Extracts X X X X X X X X Extracts X X X X ..... h Nandula , Member ( J ) And Veera Brahma Rao Arekapudi , Member ( T ) For the Appellant : S. Kavitha Rani , PCS ORDER DECISION 1. The Applicant Suresh Yarlagadda, was Director of YSK Infra Projects Limited who filed the present Company Application under Section 252 of the Companies Act, 2013, with a prayer for issuance of Directions to the Registrar of Companies, Telangana to restore the name of the Company in the Register of Companies and to pass such further orders as deemed necessary in the circumstances of the case. 2. The averments made in the Company Application dated 21.02.2022 are briefly stated hereunder: a) The Company YSK Infra Projects Limited (Hereinafter to be referred as Applicant Company) was a Partn ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ded to go for regularizing filings by filing all necessary statutory documents with the Respondent, however it came to their knowledge that Respondent had struck the name off from the Register of Companies vide Notice No. ROC/HYDERABAD/STK-7/8115/2017 dated 21.07.2017. g) That due to Operational issues and Financial Difficulties, the said Company had not been in Commercial Operations since beginning and did not file Annual Returns and Financial Statements with the Respondent from 2013-2014, 2014-2015, 2015-2016, 2016-2017, 2017-2018, 2018-2019, 2019-2020 and 2020-2021 within the time prescribed under Section 92 and 137 of the Act. h) That none of the Creditors/Shareholders or other stakeholders of the said Company will be prejudic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and nor received any cash deposits from any third party sources in the Company's Bank account. The said company did not hold any or deal in the Specified Bank Notes (SBNs), and was not required to make disclosures in the audited Financial statements pertaining to financial years 2016-2017, and the same had been confirmed by the statutory auditors in their reports on the financial statements pertaining to financial year 2016-2017. p) The Applicant Company had not filed I.T. Returns from 2013-2020 and filed returns for the year 2021 and undertook to file within 30 days upon the change in the status from strike off to active. q) The Applicant Company had enclosed the following documents giving justification/substantiating that th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... not filed any Balance Sheet or Annual Returns with the Respondent since financial year 2013-2014. It had however produced Audited Balance Sheets for all the defaulting period till 2020-2021 except for the financial Year 2018-2019. d) The Applicant Company in the Affidavits attached with the Petition had stated that the said Company has not filed I.T. Returns since 2013 to 2020. e) Hence the said Company may be directed to file the pending I.T. Returns. Therefore, the Applicant Company may be kept under strict proof of having done the business along with justification and supporting documents and shall undertake to file all statutory returns. 4. The Applicant Company in its memo dated 25.04.2022 stated that: a) It had not ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2014-2015, 2015-2016, 2016-2017, 2017-2018, 2018-2019, 2019-2020 and 2020-2021 and hence was identified for strike off under Section 248(1) of the Act. Thereafter pursuant to Section 248(1) of the said Act notice was issued to the Applicant Company. Further STK-5 notice dated 05.05.2017 was issued and the same was published in MCA Website and Official Gazette. b) The Applicant Company was struck off pursuant to STK-7 notice dated 21.07.2017 which was also published in the Official Gazette. c) Subsequently, this Company Application was filed. Thereafter the pursuant to observations made by the Respondent in its Earlier and Final Report, the said Applicant Company submitted the Audited Financial Statements and Annual Returns for al ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ent within 30 days from the date on which its name is restored in the Register of Companies by the Respondent. iii. The said Company's representative, who has filed the Company Application, is directed to personally ensure compliance of this Order. iv. The restoration of the Company's name is also subject to the payment of cost of Rs. 80000/- (Rupees Eighty Thousand Only) through online payment in www.mca.gov.in under miscellaneous fee by mentioning particulars as payment of cost for revival of Company pursuant to orders of Hon'ble National Company Law Tribunal in Company Appeal No. 01/252/HDB/2022 . v. The Applicant Company is permitted to deliver a Certified Copy of this order with Respondent within thirty days ..... X X X X Extracts X X X X X X X X Extracts X X X X
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