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TMI Blog2023 (9) TMI 361X X X X Extracts X X X X X X X X Extracts X X X X ..... nsidering that the Appellant Company is having substantial movable as well as immovable assets, it cannot be said that the Appellant Company is not carrying on any business or operations. Hence, the order passed by the National Company Law Tribunal (New Delhi Bench-II) as well as Registrar of Companies, NCT of Delhi Haryana is not sustainable in law. The name of the Appellant Company be restored to the Register of Companies subject to the compliances imposed - appeal allowed. - [Justice Anant Bijay Singh] Member (Judicial) And [Ajai Das Mehrotra] Member (Technical) For the Appellant : Mr. Ashish Middha, Advocate For the Respondent : Mr. B. Rama Ambedkar, AROC JUDGMENT Justice Anant Bijay Singh; The prese ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he company had no income from the businesses and had been charging the depreciation and was amortizing expenditure and since financial year 2015-16 was incurring losses. After the liberalization of policies of the Government of India, the company had applied for GST certificate and was granted the GST Registration Certificate dated 03.12.2020 for Delhi Office and for Mehendergarh Office on 15.12.2020. iii) The Government of India permitting the mining activities, the Appellant applied for Pollution License for AIR and was granted the same on 20.07.2020 and further the appellant company applied for AIR/Water pollution certificate to operate the mining activities on 20.03.2020. The said certificates are valid till 31.03.2024 and 19.03.2025 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ined by the Respondent No. 1 and after hearing the parties, the Tribunal passed the order impugned dated 03.01.2022 which led to filing of this Appeal. 3. The Learned Counsel for the Appellant during the course of argument and in the grounds taken in the memo of Appeal submitted that the Tribunal failed to appreciate the fact that as per the Section 248 and Companies (Removal of Names of Companies from the Register of Companies) Rules, 2016, the Respondent had not issued notices to the company and all its directors before striking off the name of the company. The Tribunal also failed to appreciate the fact that as per the sub-section (6) of Section 248, the Respondent had not passed any orders recording its satisfaction as required under ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rying out the statutory compliances submitted that the same was due to lack of communication with the practicing professional. Based on above submissions, the impugned order is fit to be set aside and the instant Appeal be allowed. 7. On the other hand, the Respondent No. 1 / Registrar of Companies during the course of argument and in his reply stated that the Appellant Company has filed Annual Returns till Financial Year ended on 31.03.2016 and Balance sheet till Financial Year ended on 31.03.2015. Moreover, no subsequent documents had been filed by the Company with this Office to obtain the status of a Dormant Company under Section 455 of the Companies Act, 1956. Hence, this Office had reasonable cause to believe that the company was ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , New Delhi stating No Objection with respect to the Appellant company in the present case. Further, the Appellant company has been regularly filing its Income Tax Returns. Also, no other proceedings are pending in the present case as per ITBA portal. 10. After hearing the parties and going through the pleadings made on behalf of the parties, we observe that the Appellant Company is having property/land and due to change of circumstances the Appellant Company has failed to file its Financial Statements and Annual Returns. Keeping in view of the above facts and considering that the Appellant Company is having substantial movable as well as immovable assets, it cannot be said that the Appellant Company is not carrying on any business or op ..... X X X X Extracts X X X X X X X X Extracts X X X X
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