9911796707
TMI Blog2023 (3) TMI 1018X X X X Extracts X X X X X X X X Extracts X X X X ..... subject to the compliances imposed - application allowed. - Company Appeal (AT) No. 147 of 2021 - - - Dated:- 23-3-2023 - [ Justice Anant Bijay Singh ] Member ( Judicial ) And [ Mr. Kanthi Narahari ] Member ( Technical ) For the Appellant : Mr. Deboporiyo Malik and Ms. Sanidhya Gupta , Advocates For the Respondent : Mr. Himanshu Pathak and Mr. Krishna Kumar , Advocates JUDGMENT Justice Anant Bijay Singh ; The present Appeal under Section 421 of the Companies Act, 2013, has been filed by the Appellant being aggrieved and dissatisfied by the order dated 23.10.2019 passed by the National Company Law Tribunal (Cuttack Bench, Cuttack) in Company Petition (Appeal) No. 82 /CTB /2019 whereby and whereunder Company Petition (Appeal) filed by the Appellant against the struck off the name of the company vide order dated 29.08.2018 passed by the Registrar of Companies, Chhattisgarh, was dismissed by the Tribunal. 2. The facts giving rise to this Appeal are as follows: i) N. K. Jain Realbuild Private Limited ( Appellant Company/Company ) was incorporated under the Companies Act, 1956 on 22.05.2012 as a Private Company, Limited by Shares with the Registrar of Comp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lence. Due to the remote location and the disruptions in day to day functioning due to Naxalite activities, the Promoters of the said company were unable to get proper advice concerning the mandatory compliances under Companies Act. Thus, the Promoters of the company were under the incorrect impression that they were only required to conduct regular audits, filing of income tax return and conduct timely AGM s as per the Companies Act. Further, the fact that various notices intimating the company of the said strike off could not be delivered due to Naxalite activities in the said region, is testament to the difficulties faced by the Company and its promoters. v) Thereafter, the Appellant learnt that on 11.01.2018 the Respondent had purportedly issued a show cause notice to the Appellant company and all its directors which was never received by the Appellant company or its directors. Consequently, proceedings under Section 248 of the Companies Act, 2013 were initiated and on account of failure of the company to file its Annual Returns or Balance Sheets, the company name was struck off. vi) On 28.06.2019, the Appellant company filed an Appeal under Section 252 of the Companies A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the affairs of the Company and solely on the basis of documents already available with the Respondent. Further, the NCLT also failed to appreciate that the Respondent was not opposed to the Company being revived in the interest of justice. 5. It is further submitted that the Respondent has arrived at a wrongful conclusion that the company is not carrying on any business because in the absence of financial statements. The carrying on business and filing annual financial statements are two separate and independent matters and there is no causal relationship between the two. Thus, non-filing of annual financial statements is not conclusive of no business operations. Further, non-filing of annual financial statements was not intentional, it was inadvertent. The Company was very much in business, a fact which is substantiated by the presence of stock as reflected in the balance sheets of the Company. Since the Company was operational, it had not intentions of obtaining dormant status and therefore had not applied for obtaining the same. The Company has been carrying on Bank account transactions, which further substantiate the fact that the company was actively carrying on business ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and Balance Sheet for the last 8 years i.e. year ending 31.03.2013 to 31.03.2020. It is stated that due to reasons that the Appellant company was not carrying on nay business or operation for a period of two financial year and had also not applied for the obtaining the dormant status under Section 455 of the Act, therefore, after giving proper notice etc. the answering Respondent in accordance with Section 248(5) of the Act, passed an order dated 29.08.2018 thereby strike off the name of the Appellant company from the register of the Company and published in the Official Gazette in form STK-7 on 29.08.2018 and the same had been placed on the official website of the Ministry of Corporate Affair on 29.08.2018. In view of the above, the Appellant not having any valid submissions, therefore, the Appeal may be dismissed as the Respondent has duly complied the law and the Tribunal has passed the appropriate order in public interest. 10. After hearing the parties and going through the pleadings made on behalf of the parties, we take note of the fact that para 9 of the impugned order, the NCLT has recorded that in this case, Registrar of Companies, Chhattisgarh also did not have obj ..... X X X X Extracts X X X X X X X X Extracts X X X X
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