2023 (2) TMI 329 - AT - Corporate Laws

Seeking restoration of the name of the Company in the Register maintained by the Registrar of Companies (RoC), NCT of Delhi & Haryana - not carrying on any operations for a period of two immediately preceding financial years - HELD THAT:- In view of the fact that the Appellant Company having valid property Lease Deed from UPSIDC and still activities are going on in Chandni Chowk shop. Further, Balance Sheet filed for the Financial Year 1998-99 and Acknowledgement of Income Tax Return of the Company filed till the Annual Year 2019-20 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, the order passed by the National Company Law Tribunal (New Delhi Bench, Court-II) as well as Registrar of Companies, NCT of Delhi & Haryana is not sustainable in law.

The impugned order is set aside - the name of the Appellant Company be restored to the Register of Companies subject to the compliances fulfilled - appeal allowed.