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2023 (2) TMI 380 - AT - Companies LawSeeking restoration of the name of the Company in the Register maintained by the Registrar of Companies (RoC), Mumbai - Respondent did not issue any notice under Section 248(1) of the Act which is mandatory in nature and a condition precedent before exercising the power of striking off under Section 248(5) of the Act - delay in filing the Balance Sheet and Annual Returns of the Company for the Financial Year 2016-17 to 2018-19 - delay due to lack of knowledge of the Compliance of the Company. HELD THAT:- In view of the fact that the Balance Sheets of the Company for the Financial Years Year 2015-16, 2016-17, 2017-18 & 2018-19 and Income Tax Returns of the Company for the Financial Years 2016-17, 2017-18 & 2018-19 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 (Mumbai Bench, Court-II) as well as Registrar of Companies, Maharashtra, Mumbai is not sustainable in law. The name of the Appellant Company be restored to the Register of Companies subject to the compliances fulfilled - appeal allowed.
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