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2022 (12) TMI 895 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL , PRINCIPAL BENCH , NEW DELHISeeking restoration of the name of the Appellant Company in the Register maintained by the Registrar of Companies (RoC), Chhattisgarh - failure to file Financial Statements & Annual Returns for the period 2016-17 to 2017-18 - whether the Appellant Company is carrying on any business or operations or not? - HELD THAT:- In view of the fact that the sale deeds executed in favour of the Appellant Company and Audited Balance sheet from Financial Year 2015-16 to 2018-19 as also Income Tax Return of the Appellant Company shows that the Appellant Company is having substantial movable as well as immovable assets. Therefore, it cannot be said that the Appellant Company is not carrying on any business or operations. Hence, we are of the view that the order passed by the National Company Law Tribunal (Cuttack Bench, Cuttack) as well as Registrar of Companies, Chhattisgarh is not sustainable in law. The impugned order passed by the National Company Law Tribunal (Cuttack Bench, Cuttack) is set aside. The name of the Appellant Company be restored to the Register of Companies subject to the compliances mentioned - Appellant shall pay costs of Rs. 50,000/- to the Registrar of Companies, Chhattisgarh within 08 (Eight) weeks from passing of this Judgment - appeal allowed.
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