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2019 (5) TMI 1723 - Tri - Companies LawRestoration of name of the company in the Register of Companies maintained by the Registrar of Companies - dissolution of appellant company - HELD THAT:- The company did not generate any Income/Revenue from its operations since the financial year ending 31st March 2014 to 31st March 2017. Further it is also noted that the company did not spend any amount towards Employee Benefit Expenses for the above Financial Years and Fixed Assets of the company is Nil, Tangible Assets Nil as per the documents submitted by the petitioner company. All these Nil figures indicates that the company exists only on paper, not carrying on any business or operation which substantiates the criteria as laid down in section 248 of the Companies Act 2013, therefore, the action taken by ROC is justified and the Bench did not feel any ground to interfere with action of striking off by ROC. The Bench is also of the considered view that these type of companies only put burden on the system, Government/ROC, by way of record keeping, ensuring compliance by these companies and at times these companies may be used for various purposes other than the purpose/object for which the company was originally incorporated. It also puts burden on the company to comply with various regulatory/statuary compliances. The Bench has not found any justifiable/ reasonable grounds to interfere with the action taken by the Government of India/ROC in striking off Lakhs of companies including the Petitioner Company - petition dismissed.
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