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2021 (1) TMI 347 - NATIONAL COMPANY LAW TRIBUNAL CUTTACK BENCHRestoration of name of Respondent company in the ROC - Section 252 (3) of the Companies Act, 2013 - HELD THAT:- Section 252 (3) of the Companies Act, 2013 confers on this Tribunal powers to Order to restore the name of the Company in the Register maintained, provided such application is filed by (i) the Company or (ii) by any Member or (iii) any creditor or (iv) any workmen of the Company within 20 years from the date of publication of the notices under Section 248 (5) in Official Gazette about striking off name of such Company provided further that it is seen from the material on record that at the time its name being struck off, the Company was doing its business or carrying its operations - In this case, the applicant produced on record the copy of Audited Annual Accounts for all defaulting years. As per the audited reports of the Profit and Loss accounts of the Company, it is evident that the Company has not been generating any revenue from its operations and has incurred losses in all the defaulting years. Financial Statements do not suggest any business transactions for which the Company was incorporated. There is no material consumed, or work in progress or debtors or Finance cost. There are no expenses in respect of the Employee benefits, which indicate that the Company had nobody in its employment during the defaulting years - The Appellant has not submitted the details of Bank Account or GST Certificate, Rent Agreement, any document in relation to existence of its registered office nor any Income Tax Return or any sale and purchase invoices details, which support his contention that the company was a running entity when the name of the company was struck off. This prima facie suggests that the Company was not doing any business activities. Application dismissed.
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