TMI Blog2009 (10) TMI 522X X X X Extracts X X X X X X X X Extracts X X X X ..... e dated July 6, 2007 and thus there has been complete violation of the provisions of sub-section (3) of section 560 of the Act. Apart from the same the fact that up to date statutory returns had already been filed in the month of February, 2007, itself has not been taken note of by the Registrar of Companies and thus he has issued the notice under sub-section (3) of section 560 of the Act which is contrary to the records available with him at the relevant time. In the above circumstances, the impugned order dated 31-7-2007, contained in the Gazette of India dated 18-8-2007, is non est, illegal and void ab initio which cannot stand and it is, accordingly, quashed. The name of the company shall thus stand restored to the Register of Compan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion an amount of Rs. 22.69 lakhs was paid to the Central Bank of India in a compromise decree in 2002 out of the funds provided by the directors who were guarantors of the secured loans. Similarly an amount of Rs. 9.82 lakhs was paid to the BSFC in terms of the OTS Scheme, 2006, in full and final settlement of its dues out of the funds provided by the directors who were creditors of the said company. No dues certificates were issued by both the bank and the BSFC. Thereafter steps were taken to file all the pending returns right from the year 1988 and the same was done through e-filing for which challans were admittedly deposited from 22-2-2007 to 28-2-2007. 4. In the meantime the Registrar of Companies issued a letter dated 27-11-2006, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he may publish in the Official Gazette, and send to the company by registered post, a notice that, at the expiration of three months from the date of that notice, the name of the company mentioned therein will, unless cause is shown to the contrary, be struck off the register and the company will be dissolved. (5) At the expiry of the time mentioned in the notice referred to in sub-section (3) or (4), the Registrar may, unless cause to the contrary is previously shown by the company, strike its name off the register, and shall publish notice thereof in the Official Gazette ; and on the publication in the Official Gazette of this notice, the company shall stand dissolved : Provided that ( a )the liability, if any, of every directo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er was passed on 31-7-2007, itself striking off the name of the company from the Register of Companies which was published in the Gazette of India dated 18-8-2007. Even the gazette publication is within a month and 12 days of the notice dated July 6, 2007 and thus there has been complete violation of the provisions of sub-section (3) of section 560 of the Act. Apart from the same the fact that up to date statutory returns had already been filed in the month of February, 2007, itself has not been taken note of by the Registrar of Companies and thus he has issued the notice under sub-section (3) of section 560 of the Act which is contrary to the records available with him at the relevant time. 7. In the above circumstances, the impugned o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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