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2019 (4) TMI 738 - AT - Companies LawRestoration of name of the 2nd respondent to the register of the Registrar of Companies - modification of master data by modifying the status from “Strike Off” to “Active” - Held that:- As per Section 252 of Companies Act, 2013 a company can be restored only on the direction of Hon’ble NCLT within a period of three years from the date of the order of the Registrar. The appellants are entitled to file company petition/appeal before the Tribunal under Section 252(3) of Companies Act, 2013. Therefore, the appellants can file petition/appeal under Section 252(3) of the Act. 1st respondent while submitting his reply seems to have only dealt with Section 252(1) of the Companies Act, 2013 and have not dealt with Section 252(3) of the Companies Act, 2013 on the basis of which the appellants are seeking relief for restoration of the name of company which has been struck. As per Section 248(6) of the Companies Act, 2013, the Registrar, before passing of order under Section 248(5), have to satisfy himself that sufficient provision has been made for the realisation of all amount due to the company and for payment or discharge of its liabilities and obligations and, if necessary, to obtain undertaking from the appellant and the assets of the company will be made available for payment. By not responding to the ROC of its notice, the appellants shall not be relieved from the responsibility which they were bound to give in the shape of undertaking under this provision. Seeing the balance sheets and the company’s huge investment which the company is having since 2011 and there are large amount of the loan and advances, it is possible that creditors could also be aggrieved persons, feeling aggrieved of company’s name being struck off, may file an application for restoration of company’s name, if its name is not restored. Thus it would be just and equitable to restore the name of the company to even avoid further legal proceedings. The name of Respondent No.2 company shall be restored to the Register of Companies - appeal disposed off.
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