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2019 (8) TMI 1002 - Tri - Companies LawRestoration of name of Company in the Register of Companies maintained by ROC - no returns were filed for the period beginning from 2014-2015 till 2017-2018 - section 252(1) of the Companies Act, 2013 - HELD THAT:- It is conclusively established that the company cannot be considered to be in operation. Further, merely some unsecured loans/investment in private companies have been made in earlier years and which have remained static, the continuity of the company as a going concern as per established business norms and accounting framework cannot be said to be in existence. Further, in view of the specific provisions of section 248(6), the liability to pay unsecured loans remain on the part of directors / other persons in the charge of the management of the company and the assets of the company are also available for the discharge of all its liabilities and obligation - Hence, the removal of the company's name from the Register of Companies cannot be a constraint / impediment for removal of the name of the company and therefore, the same cannot become a ground for restoration of the company. In the present case, it is not in dispute that company has failed to file the returns and annual financial statements and has also not obtained the status of a dormant company prior to striking off the name of the company from the register of companies. The company and/or its directors have also not responded to the notice issued by Registrar of Companies under section 248(1) of the Companies Act, 2013 - There is also no valid ground for restoration of the name of the company for the reason that it caused great hardship to the directors of other companies as they have come to this situation because of their own inaction and non-compliance. Appeal dismissed.
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