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2021 (7) TMI 875 - Tri - Companies LawRestoration of name of Company in the Register of Companies - 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. The Company had not generated any revenue from its operations during the financial years 2010-11 to 2013-14 and 2016-17 to 2017-18, and in all these years it had incurred losses. However, the Financial Statements indicate that immediately before the Company was Struck Off it had generated revenues from operations during the financial year ended on March 31, 2015 and March 31, 2016. During the said two years it has also recorded profits - appellant has filed along with the application a copy of Income Tax return Acknowledgement for the Assessment Year 2019-20, which indicate Gross Total Income of ₹ 1,74,740/- and amount of ₹ 51,354/- paid as tax - also, Appellant has produced a copy of bank statement for the period 01.04.2019 to 31.03.2019 which indicate that the Company is maintaining Bank Account No. 510101005003376 with Corporation Bank. Thus, the Company is a going concern and was in operation when its name was struck off - The Registrar of Companies, the respondent herein, is ordered to restore the original status of the Appellant Company - application allowed.
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