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2018 (2) TMI 1063 - Tri - Companies LawCompany name removal from the Register of Companies [‘ROC’] - non commencement of business within one year of its incorporation - restoration of name seeked - Held that:- The Company is registered with the object of doing Real Estate business including other businesses. From the documents filed by the appellant on 23rd August, 2016 it appears that the Company entered into the MOU to purchase certain lands for the purpose of development. The Bank’s account also shows certain transactions relating to the Company by the date of striking off the Company. Even otherwise, another ground that is available for restoration of the Company is if it is otherwise just to restore the name. ‘If it is otherwise’ means it must be any other ground other than carrying on business or in operation on the date of striking off. The ROC in his Representation did not raise any objection for restoring the name of the Company on the ground that it is involved in any act which is illegal or tax evasion. According to the Appellant, the Company is going ahead with its business and it has to pay the balance amount to the owner of the land from whom the Company purchased the land. Therefore, even otherwise it is just to restore the name of the Company. As already stated above, the Company had filed copies of Bank Statement and Income Tax Returns. Therefore, this Tribunal is of the view that it is just to restore the name of the Company in the Register of Companies
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