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2019 (8) TMI 1625 - Tri - Companies LawRestoration of the name of the Company in the Register of Companies - Section 252 (3) of the Companies Act, 2013 - HELD THAT:- It is held that despite of the fact that the company has no revenue from operations in the Financial Years 2014-15 to 2016-17, the Company possesses assets industrial land measuring 7 Kanals 7 Marlas and 66 Square feet situated in the State of Jammu. Hence, the company has been able to show that it was carrying on business or in operation at the time of its name being struck off from the register of companies. In the submissions made on behalf of the ROC and the Income Tax Department, no objection to the restoration of the name of the Company, has been raised - It is therefore, held that the ingredients provided for in Section 252(3) of the Act, are satisfied. The name of the company be restored in the Register of Companies, subject to deposit of ₹ 40,000/- as costs with the Pay and Accounts Officer, Ministry of Corporate Affairs within a period of three weeks from the receipt of certified copy of this order - petition allowed.
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