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2020 (9) TMI 473 - Tri - Companies LawRestoration of the name of the Company in the Register of Companies - Section 252(1) of the Companies Act, 2013 - HELD THAT:- The petition is filed under Section 252(1) of the Act, however, it can be seen that it actually satisfied the provisions of Section 252(3) of the Act and it would be appropriate to consider and decide the present petition under Section 252(3) of the Act. The present petition is filed by the petitioner within a period of 20 years from publication in the Official Gazette of notice under Section 248(5) of the Act - The Income Tax Department has raised outstanding demand of ₹ 4,40,60,940/- including interest under Section 234A & 234B of the Income Tax Act, 1961. It has been stated that an appeal against the demand is pending before the Commissioner of Income Tax (Appeals)-2, Chandigarh. It would be in the interest of Income Tax Department that the company is revived so that recovery proceedings can be continued by the Department, expeditiously. The petitioner-company has entered into agreement to purchase the land (Annexure 5) and the learned counsel representing petitioner-company has submitted that the company has filed appeal against the civil suit in respect of the specific performance before the High Court of Punjab and Haryana - thus, the ingredients provided for in 252(3) of the Act, are satisfied. The petition is allowed and the name of the company be restored in the Register of Companies, subject to deposit of ₹ 30,000/- as costs with the Pay and Accounts Officer, Ministry of Corporate Affairs within a period of three weeks from the receipt of certified copy of this order.
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