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2017 (7) TMI 1298 - Tri - Companies LawRestoration of the name in the Register of the Registrar of Companies Kanpur Uttar Pradesh - Time imitation - HELD THAT:- It is a well settled position that the Court should adopt a liberal approach for allowing the restoration of company and only by way an exception the restoration should be denied. The Hon'ble Delhi High Court further emphasized that the statute prescribed for of 20 years' periods of limitations to a party to seek restoration and having succeed in its restoration the company would be deemed to have been continued in its existence. As in the present matter the name of the company has been struck off from the Registrar of the ROC by its impugned order dated 11.05.2010. The present application is filed before this Tribunal on 31st June, 2017, that is filed almost after 6 and half year, but still it is within limitation. Although applicant company's justification for not making statutory compliance and not filing annual return are not convincing one nor found satisfactory because the company failed to reply to the notices issued by the O/o ROC. This Court is expected to adopt a liberal approach for allowing restoration of the name of the company in the Registrar of the ROC, and by allowing the same no serious prejudice is going to cause to a third party. As the company is still having its assets with no creditors, therefore, company can restart well its business upon being restored in the Register of the ROC. Restoration of name is allowed - application allowed.
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