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2020 (10) TMI 124 - Tri - Companies LawRestoration of the name of the company to the Register of Companies maintained by the Registrar of Companies - failure on the part of the company to file the statutory documents for Financial Year since incorporation, and also for not carrying on the business - section 252(3) of the Companies Act, 2013 - HELD THAT:- The Petitioner Company holds tangible assets in the form of land admeasuring an extent of 3610 sq ft in Mira Road, Thane, which was acquired at a value of ₹ 3,87,320/- on 31.08.2007. The Company has placed on record a copy of the 7/12 register extract in support of its contention, at Annexure-3 to the Petition - Possession of an asset such as land will fall within the meaning of the expression “just” used in section 252(3) of the Companies Act, 2013. The land in question is located in Mira Road, within the Mumbai Metropolitan Region. The property of the Petitioner Company would be rendered bona vacantia in case the present application is not allowed, and this is not a very desirable result from the point of view of the Petitioner Company. Thus, the name of the Petitioner Company should be restored to the register and that it should be given a chance to redeem itself by filing all the pending statutory returns with the RoC - The Respondent Registrar of Companies, Maharashtra, Mumbai, is directed to restore the name of the Petitioner Company - petition allowed.
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