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2017 (6) TMI 1338 - HC - Companies LawRestoration of name of the company in the Registrar of members - section 252(3) of Companies Act - HELD THAT:- On the plain reading of the said provisions it is crystal clear that the Company, or any member, or any creditor can present an application within a period of 20 years from the publication made in the official Gazette of the notice to strike out the name of such Company from the register of the Registrar of Companies and that any of the above referred three category of persons can maintain an application to restore the name of the Company in the register of the Registrar of Companies. The said provisions, amongst others, also permit the restoration of a Company not only if it is shown that the said Company was carrying on business, or was in operation, but also if it was otherwise just that the Company be restored to the register. In the present case in hand, as mentioned hereinbefore, the petitioner No.1 Company is the owner of land ad-measuring 10 bigha- 4 kathas - 19 lechas at Bongaigaon District. Hence, this appears to be a fit case wherein this Court may take judicial notice of the ever rising market value of land. In this regard, I find support from the case of Rattan Arya V. State of Tamil Nadu, [1986 (4) TMI 346 - SUPREME COURT]. The ownership of such a big estate is indicative of the fact that if there is no owner of any land, there is every likelihood of the said land will waste away by encroachment or otherwise or it will become a den for anti-social activities. Fraudulent sale of land in our Country is not uncommon, which would be revealed from the perusal of innumerable case reports where land involved in the suit or proceeding was illegally and fraudulently transferred. This application deserves to be allowed.
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