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2019 (9) TMI 1490 - Tri - Companies LawSeeking restoration of the name of the Company which has been struck off by the Registrar of Companies - non filing of the Balance Sheet and Annual Returns since the financial year 31-03-2013 - Section 252 of the Companies Act, 2013 - HELD THAT:- According to the Ld. PCS for the Appellant, the Appellant Company is carrying on its business as Architect, Interior Designer and is in operation. The business of the Company seems to have been carried on and accordingly, the Appeal is liable to be allowed, however, with a cost for non complying the statutory provisions without any reasonable excuse. The Appellant Company failed to file the balance sheets and Annual Returns since the financial year 31- 03-2013. The contention that due to lack of knowledge and with no proper Professional guidance, the Company failed in submitting the balance sheets and Annual Returns since the financial year 31-03-2013, cannot be believed as a genuine reason. So, awarding the cost of ₹ 1,25,000/- ( Rupees One Lakh Twenty five thousand only) is fair and just in the nature and circumstances of the case in hand. the Company. The copy of the Income Tax Return Acknowledgement produced on the side of the Appellant shows that the Appellant has submitted IT Return for the Assessment year 2013-14, 2014-15, 2015-16, 2016-17 and 2017-18. The Registrar of Companies, the respondent herein, is ordered to restore the original status of the Appellant Company as if the name of the company has not been struck off from the Register of Companies with resultant and consequential actions like changing status of Company from 'strike off to Active - The restoration of the Company's name is also subject to the payment of cost of ₹ 1,25,000/-.
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