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2018 (5) TMI 1884 - NATIONAL COMPANY LAW TRIBUNAL - ALLAHABAD BENCHRestoration of name of the petitioner-company in the register of the Registrar of Companies - HELD THAT:- In the present case report of the Registrar of Companies is against the company. In paragraph 8 of the counter affidavit, it is stated that the petitioner company has not filed "statutory balance-sheet" and "annual returns" for the last ten years. Further in paragraph 9 of the affidavit, it is stated that the petitioner-company has admitted that they have failed to file "statutory balance-sheet" and annual return for the last ten years which led to the affirmation that respondent No. 2 had reasonable cause to believe that the petitioner-company was not carrying business operation. From the fact of the case itself, it is obvious that company is not doing any business at the time of striking off its name. In the year 1995 assets of textile undertaking were nationalised by the Textile Undertaking (Nationalization) Act, 1995. The entire textile undertaking was vested with the Government of India. Special Act, 98 Lakshmirattan and Atherton West Cotton Mills (Taking Over of Management) Act, 1976 was passed pursuant to which management of the petitioner-company was taken over by the Government of India in terms of section 3(4) aforesaid Act and thus exclu sive control vested with the Government of India through National Textile Corporation, so the petitioner in the present matter has no control over the company. It appears that the petitioner has filed this petition for restoration of company to pursue its matter in the hon'ble High Court. The grounds available under section 560(6) for restoring a company name is not fulfilled in this matter as company is not carrying on business or in operation. It is not just and proper to restore the company, as petitioner is seeking restoration to protect its interest so that he can pursue the matter before the hon'ble High Court. No interest of member, creditors or public is involved in it.
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