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2019 (6) TMI 1570 - NATIONAL COMPANY LAW TRIBUNAL , KOLKATA BENCHRestoration of the name of the appellant Company on the Register of Companies - Section 252(3) of the Companies Act - HELD THAT:- A careful evaluation of the revenue generated for the financial years starting from the financial year ending 31.03.2013 onwards, it is understood that the company was not generating any income till the financial year ending 31/03/2016. However immediately before the date of struck off the appellant company, it was doing some kind of business and income seen generated from the Financial year ending 31/03/2017. As per the balance sheet it is also understood that the company is doing cash transaction too. However, when asked about non-production of Bank Statement, the Ld. Pr. CS appearing for the appellant submits that the company has no bank account at all. So, also no valid explanation given on the side of the appellant as to the non-filing of Income Tax Returns. Even in the absence of production of statement of bank account and income tax return the appellant company is found begun operation, evidencing generating income. An opportunity is to be given to the appellant company as a going concern. However, no valid explanation forthcoming as to non-filing of the balance sheets and annual returns for more than 5 years and no valid explanation given for operating the company without maintaining any account in the bank. The explanation that the person, who was dealing with the compliance as is required under the Companies Act, 2013, has left the company without intimation, being found unacceptable in the absence of any supporting evidence. Non-filing of the Annual Returns and Financial Statements cannot be held as due to inadvertent mistake on the side of the appellant. The appellant company's name being found to be restored the DIN of the Company is to be activated upon the restoration of the name of the appellant company - Appeal allowed.
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