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TMI Blog2022 (11) TMI 761X X X X Extracts X X X X X X X X Extracts X X X X ..... The present Appeal under Section 421(1) of the Companies Act, 2013 filed by the Appellant being aggrieved and dissatisfied by the order dated 15.10.2019 passed by the National Company Law Tribunal, Kolkata Bench, Kolkata in Appeal No. 729/KB/2019 whereby and whereunder the appeal filed by the Appellant herein for restoration of the name of the Company in the Register of Companies, West Bengal was dismissed. 2. The facts giving rise to this Appeal are as follows: i) The Appellant herein is a shareholder of a company being MPH Infrastructure Pvt. Ltd., a company limited by shares, incorporated under the provisions of the Companies Act, 1956 having its registered office at Kolkata-700094. The authorized share capital of the company is Rs. 1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he company on the Register of Companies maintained by the Registrar of Companies, West Bengal, praying for direction upon the Respondent to restore the name of the company and to file and/or register with the Respondent and to rectify the Master Data by modifying the status from striking off to active. After hearing the parties, the Tribunal passed the impugned order which led to filing of this Appeal. 3. The Ld. Counsel for the Appellant during the course of argument and in his memo of Appeal along with written submissions submitted that the company was incorporated in 2012 with specific object to, inter alia, carry on the business of real estate and development and construction work, as per the Memorandum of Association. The Company is a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... bmitted that it is an evident from the records that the Company has not filed its balance sheets and annual returns since incorporation with the office of the Respondent. As per provision of Section 252 of the Companies Act, 2013, a struck off company can be restored only on the direction of the NCLT within a period of twenty years from the publication in the official Gazette of the notice. In this regard, it is submitted that in terms of the said provisions, the NCLT while passing an order for restoration it is to be satisfied that the company is carrying on business or in operation. 7. It is further submitted that as per available records maintained by the office of the Registrar of Companies, West Bengal, the company was struck off on 0 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e on behalf of the parties as also the impugned order dated 31.05.2021, we observe that the Tribunal has recorded in para 7 of the impugned order, the financial statements for the financial years ending 31.03.2013 to 31.03.2018 which shows that the Company is a going concern, but a look at the financial statements on the other hand shows that the company was not doing any kind of business and further para 8 it has been recorded that the company is not earning any revenue from operations since its incorporation i.e. from 2012-13 to 2017-18, therefore, has not earned any profits and does not have any fixed assets in the company. * Taking all the facts aforenoted, we agree with the reasons given by the Tribunal. The Impugned Order dated 15.1 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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