Home Case Index All Cases Companies Law Companies Law + Tri Companies Law - 2020 (11) TMI Tri This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2020 (11) TMI 327 - NATIONAL COMPANY LAW TRIBUNAL, MUMBAI BENCHRestoration of name of the company in the Register maintained by the Registrar of Companies, Mumbai - Section 252 (3) of the Companies Act, 1956 - HELD THAT:- It is observed that the Petitioner Company has Short term borrowings of ₹ 1,170, 034/-, has fixed Assets of ₹ 12,38,464/-, for the Financial Year 2017-2018 and 2016-2017 - The Company has Fixed Assets (Land) valued of ₹ 12,38,464/- in its Balance Sheet. The Company had taken on lease the premises at MAHAD MIDC, got NOC from MIDC for power supply and also obtained approval for water supply from MIDC as stated in pre-paras. The Company has also produced various approval letters from the authorities, Lease Deed with MIDC to satisfy the Bench that the Company is carrying on its business operations. The Bench is of the opinion that the Company is taking various steps towards the commencement of its production - the books of the Petitioner Company reflects that Members intend to continue its business operations of the company. Therefore, in the interest of justice the name of the company deserves to be restored in the Register of Companies maintained by the Respondent Registrar of Companies Petition allowed.
|