9911796707
TMI Blog2023 (6) TMI 72X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 17.12.2021 passed by the National Company Law Tribunal (New Delhi Bench, Court-II) in Appeal No. 114/252(ND)/2021 whereby and whereunder appeal filed by the Appellant for restoration of the name of the Company in the Register maintained by the Registrar of Companies (RoC), Mumbai was dismissed by the Tribunal. 2. The facts giving rise to this Appeal are as follows: i) The Appellant-Company M/S Sanmati Agrizone Private Limited was incorporated on 20.09.2011 vide registration no. 225294 under the Companies Act, which is having its Registered Office at B-649, G/F ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... farming activities to cultivate, grow, produce, propagate, raise all kinds and types of crops, plants, trees, flowers, fruits, vegetables, seeds, herbs, fishes, poultry, cattle and to carry on all the activities as importers, exporters, manufacturers, processors, millers, grinders, canners, preservers of all kinds and types of goods in these business and to make extracts, by products, derivatives and substitutes of these goods or dispose of and deal either as wholesalers or retailers, in any such produce either in its raw, prepared and/or manufactured or any other forms. Further, to carry on the business of planters, cultivators, producers, sellers and dealers in timber, processed or not and such other products of every description and to m ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s entrusted to the part time accountant who to the reasons best known to him did not filed the necessary return and never apprised such default to the management of the appellant company, due to which directors of the appellant company for smooth running of its business decided to file all the necessary documents with Respondent No. 1but during the preparation of the documents the appellant company got to know that their name has been strike off by the Respondent no. 1 w.e.f. 08.08.2018 under section 248 of the Companies Act 2013. vi) Due to the circumstances beyond the control and due to oversight the appellant as explained above the company was not able to file its financial statements with Respondent No. 1 after the period of financial ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Registrar of Companies acted arbitrary and against the principles of natural justice by strike off the name of the Appellant Company as the Respondent No. l have not sent any notice under section 248 of the Companies Act 2013 due to which the Appellant company was not able to defend itself before the Respondent No. 1. The Registrar of Companies strike off the name of the company chiefly on account of non-filing of annual accounts and not on the basis of reasons that the company is not having the "income from operation" hence the objection of Registrar of Companies taken in report is beyond the reasons for striking off the company and the Tribunal have not considered the said ground at all while deciding the appeal as there is no finding i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pany was a Shell Company or a Company having assets but advancing loans to sister concerns or corporate persons for siphoning of the funds, evading tax or indulging in unlawful business or not abiding by the statutory compliances, the aforesaid findings are totally missing in the order passed by the NCLT, hence the order cannot be sustained. 6. It is further submitted that once name of the Appellant Company is restored, the Appellant Company would be able to continue the work which would, inter-alia, benefit the State and Union Governments in terms of Income Tax and other taxes. Therefore, restoration of the name of the Appellant Company would not only be beneficial to the Shareholders of the Appellant Company but also to the State and Uni ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Audited Balance Sheets of the two immediately preceding financial years i.e. 2015-16 and 2016-17 and onwards reflect 'NIL' Revenue from Operations which is hereunder: Balance Sheet for the Financial Year Revenue From Operations 2015-16 'NIL' 2016-17 'NIL' 2017-18 'NIL' 2018-19 'NIL' 11. The impugned order dated 17.12.2021, the NCLT has rightly held that the Audited Financial Statements of the two immediately preceding Financial Years i.e., 2015-16 and 2016-17 filed by the Appellant Company reflected "Zero revenue" from its operations and have come to the conclusion that the Appellant Company was neither in operation nor carrying out its business at the time of its name was struck off from the register of Registrar of Companie ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
