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2021 (4) TMI 1136 - NATIONAL COMPANY LAW TRIBUNAL , KOCHI BENCHWinding up of company - name of company struck off u/s 248 of Companies Act - award of costs and expenses to the petitioners, incurred by them for filing the winding up petition - HELD THAT:- From a reading of Sub-Section (8) of Section 248, it is clear that Section 248 in no manner will affect the powers of this Tribunal to wind up the Company, the name of which has been struck off from the Register of Companies. Therefore, even after removal of the name of the Company from the Register of Companies this Tribunal can proceed with the petition for winding up under Section 271 of the Companies Act, 2013 - It also appears from the record that the Company got struck off on 29.08.2018 due to non-filing of Statutory Returns since 2001. Hence the criteria fixed under Section 271 (d), that the Company failed to file Financial Statements or Annual Returns for immediately preceding five consecutive years is fulfilled. The submission of the Petitioners that the Company is in the state of dormancy and its assets are lying is to be considered and that no purpose will be served if the same is kept unattended to. However, the submission of the Respondent No.1 regarding his spending some amount in connection with security arrangements, up keeping of records etc., he should be compensated for the same has force. Hence, while disposing of the property, he should be given a preference to buy the property, for such value that should be mutually agreed to by the Petitioners and Respondent No.1. The Provisional Liquidator is permitted to initiate appropriate action in accordance with extant provisions of Companies Act, to take custody or control of all the properties, effects and actionable claims to which Company is or appears to be entitled to and take such steps and measures, as may be necessary, to protect and preserve the properties of the Respondent No.1 Company and to avoid misuse of its property - Application disposed off.
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