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2019 (7) TMI 524 - AT - Companies LawRestoration of name of company on the Register of Companies - failure to file the returns with the ROC from financial year 2009 onwards - jurisdiction of Registrar of Companies under Section 248 of the Companies Act, 2013 - failure to notice that the parameters set out in Section 252(3) of the Act - HELD THAT:- ‘Matrix Power’ has been struck off the Register of Companies on the ground of non-filing of financial statements and annual returns for the financial years 2009-10 to 2017-18, though it is not disputed that the company has filed Income Tax Returns and Bank Statements for Assessment Years 2008-09 to 2017-18, which demonstrated significant accounting transactions during the aforesaid period. The only conclusion deducible from this documentary evidence and unhesitatingly accepted by the Respondent – ROC is that ‘Matrix Power’ had been carrying on business and was in operation during the relevant period. It being admitted by ROC that the accounting transactions undertaken by the company qua its avowed objective were significant, the business being carried on by the company cannot be termed cosmetic or inconsequential. What stares in the face of impugned order is the fact that the Tribunal has overlooked the factum of the significant accounting transactions admittedly undertaken by the company during the relevant period justifying no conclusion other than the one that the company was in operation and carrying on business. Ironically the ROC, while admitting this factual proposition, sought to strike off the name of the company from its register ignoring and shutting out the vital evidence though in its report before the Tribunal as also before this Appellate Tribunal such proposition of fact is pleaded and reiterated. It is therefore safe to conclude that removal of name of the company from the Register of Companies was not justified as the ground projected i.e. the company was not in operation and not carrying out business during the relevant period did not exist. Respondent is directed to restore the name of ‘M/s Matrix Power Controls India Pvt. Ltd.’ to the Register of Companies subject to statutory compliances being filed together with the prescribed fees and penalties leviable thereon as mandated by law - Appeal allowed.
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