Home Case Index All Cases Companies Law Companies Law + Tri Companies Law - 2020 (12) TMI Tri This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2020 (12) TMI 1088 - NATIONAL COMPANY LAW TRIBUNAL , BENGALURU BENCHRestoration of name of the Petitioners Company - section 252(3) of the Companies Act, 2013 R/w Rule 87A of the NCLT Rules, 2016 - HELD THAT:- Tribunal has to take into consideration the bona fide contentions of Petitioner seeking to restore the name of Company, by taking a lenient view of the issue in the interest of justice and ease of doing business, instead of rigidly interpreting the law on the issue. It is also not in dispute that the instant Company Petition is filed in accordance with law; there are no investigations pending against the Company; the Respondent has not opposed the Petition; and left the issue to the Tribunal to consider the case subject to terms and conditions. The Company is a going concern and striking of its name would adversely affect the business as well as various stakeholders and employees. Its Directors have lent unsecured loan to the Company and the Company Bank account is seized which is affecting its business operations. No prejudice would be caused to any party if the Company's name is restored, as prayed. The Shareholders of the Company have undertaken to file all the returns, statements and documents that are required under the Companies Act, 2013 within the prescribed time. Therefore, in the interest of justice would be met if the name of Company is restored as prayed for, however, subject to conditions mentioned below. The Registrar of Companies, Karnataka, the Respondent herein, is ordered to restore the name of the Company in the Register maintained by the Registrar of Companies, Karnataka as if its name had not been struck off from the rolls of the Register, with restoration of all consequential action taken by Registrar of Companies, which includes restoration of DINs of its Directors - application allowed.
|