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2020 (12) TMI 38 - Tri - Companies LawRestoration of the name of the company to the Register of Companies maintained by the Registrar of Companies - section 252(3) of the Companies Act, 2013 - grievance of the Petitioner Company is that the Respondent Registrar of Companies struck off the name of the Petitioner Company from the Register of Companies maintained by them without issuing notice in Form STK-5 - Principles of Natural Justice - HELD THAT:- The name of the company was struck off due to failure on the part of the company to file the statutory documents for Financial Year 2015-16 and 2016-17, and also for not carrying on the business. The Bench observes that the Petitioner Company has generated Revenue from operations, has Non-Current Assets, Current Assets & Long-Term Borrowings in its Books of Accounts. Therefore, it would be just, equitable and in the interest of justice to provide an opportunity to the company to rectify its defaults and continue the business. The Respondent Registrar of Companies, Maharashtra, Mumbai, is directed to restore the name of the Petitioner Company, to the Register of Companies subject to payment of a sum of ₹ 40,000/- as cost - Application allowed.
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