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TMI Blog2024 (8) TMI 478X X X X Extracts X X X X X X X X Extracts X X X X ..... is inclined to shift its business from iron ore to crushing stone, it would be appropriate to restore the appellant and it is in the benefit to State Exchequer and would also aid employment generation. It is just and equitable to restore the name of the appellant company to the record of ROC - the impugned order set aside - appeal allowed. - ( Justice Yogesh Khanna ) Member ( Judicial ) And ( Mr. Ajai Das Mehrotra ) Member ( Technical ) For the Appellant : Mr. Rahul Gupta, Advocate For the Respondent : MR. Kamal Kant Jha, Advocate with Mr. Avinash Singh, Mr. Saurabh Jha, Mr. Kanchan Lata Jha, Mr Rahul Jha, Mr Gopal K, Mr Madhukar Kumar Singh, Mr. Harsh Anand, Advocates JUDGEMENT JUSTICE YOGESH KHANNA , MEMBER ( JUDICIAL ) The present app ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... financial year ended 31.03.2015, hence the Registrar having reasonable cause to believe that the above named company is not carrying on any business or in operation for a period immediately preceding last financial years and has not made any application within such period for obtaining the status of a Dormant Company under Section 455 of the Companies Act, 2013 and issued Notice in Form No.STK-I under Section 248(1)(c) of the Companies Act, 2013 to the Companying enquiring whether the said company was carrying on any business or was in operation, but no reply to the said show cause notice was received by this office. Subsequently this office published in the official gazette and newspaper for the information of the general public regarding ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt from a letter issued by the Mining Officer, Baripada to the Director of Mines, Odisha dated 12 February 2021. Permission to sell the stock was granted by the concerned authority on 25 February 2021). In addition to the stock the Appellant also owns crushers and commercial vehicles as is evident from the pictures. Additionally, the Appellant also has one debtor Mr BC Dagra whose debt is reflected in the balance sheet of the Appellant. 8. Ever since the prime business activity of the Appellant was restricted by the Government of Odisha, the Appellant has earned income through other sources. One such source is renting Excavators / Hywa on Rental or Lease basis and also its crushing equipment to one M/s Sri Kirshna Enterprises under the term ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... id employment generation. 13. In M/s Durga Builders (P) Ltd Vs ROC; Company Appeal (AT) No.154 of 2021 this Tribunal held:- 10. After hearing the parties and going through the pleadings made on behalf of the parties, we observe that the Appellant Company is in litigation therefore, the Company has not filed the financial statements and also without giving opportunity of hearing, the Respondent No. 1/Registrar of Companies struck off the name of the Appellant Company's from the Register maintained by him, but in view of the fact and also the Bank Statements of the Appellant Company from 2015 -2018 shows that the Appellant Company is having substantial movable as well as immovable assets. Therefore, it cannot be said that the Appellant Co ..... X X X X Extracts X X X X X X X X Extracts X X X X
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