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2020 (12) TMI 958 - NATIONAL COMPANY LAW TRIBUNAL MUMBAI BENCHRestoration of the name of the Company to the Register of Companies maintained by the Registrar of Companies - 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 2014-15 and 2016-17, and also for not carrying on the business - section 252 of the Companies Act, 2013 - HELD THAT:- Upon perusal of the Financial Statements of the Company, it is observed that the Petitioner Company has not generated any revenue for the financial year 2014-15 and 2015-2016. The Petitioner Company has incurred Total Expenses of ₹ 19,788.00 and has Current Assets of ₹ 97,131.00 for F.Y. 2014-15. Further, Petitioner Company has incurred Total Expenses of ₹ 17,950.00 and has Current Assets of ₹ 79,181.00 for F.Y. 2015-16. The Petitioner Company has other current liabilities of ₹ 26,149.00 for F.Y. 2014-15 and 2015-16. The Bench observes that the Petitioner Company has not generated revenues. However, the Petitioner Company has Current Assets & other current liabilities 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 - Application allowed.
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