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2021 (1) TMI 984 - NATIONAL COMPANY LAW TRIBUNAL , HYDERABAD BENCHSeeking restoration of name of the Company in the Register of Companies - Section 252 of the Companies Act, 2013 - HELD THAT:- The counsel for applicants has filed provisional balance sheet for the financial years 2017-18 and 2018-19. He has also filed provisional income tax returns for the financial year 2017-18 and 2018-19 along with memo dated 17.08.2020. As seen from the provisional profit and loss statement for the year ended 2017-18 the company is having revenue from operations at ₹ 2,20,000/-. As seen from the provisional profit and loss statement for the year ended 2018-19 the Company is having revenue from operations is shown at ₹ 2,85,000/- This shows the company is ongoing concern. The applicants complied the requirements pointed out by the ROC, in his report. Therefore there are grounds to restore the company - Further, it is also seen that the latest Balance sheet as on 31st March 2017 of the Company. The Company is having total Assets (Non-current and current) at ₹ 33,124/- and Revenue from operations is at ₹ 1,95,000/- as on 31.03.2017. After going through the provisions of Section 252 (3) of the Companies Act, 2013, this Tribunal is of the view that the Company was in existence and it is a going concern and name of Company to be restored in the Register of Companies as maintained by RoC - Registrar of Companies, the respondent herein, is ordered to restore the original status of the Applicant Company as if the name of the company has not been struck off from the Register of Companies and take all consequential actions like change of company's status from 'strike off' to Active (for e-filing), to restore and activate the DINs if applicable, to intimate the bankers about restoration of the name of the company so as to defreeze its accounts - Application allowed.
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