TMI Blog2016 (6) TMI 5X X X X Extracts X X X X X X X X Extracts X X X X ..... f Companies, Maharashtra, &Ors. (1984 (4) TMI 247 - HIGH COURT OF BOMBAY ); it is only proper that the impugned order of the respondent dated 23.06.2007, which struck off the name of the petitioner from the Register of Companies, be set aside. At the same time, however, there is no gainsaying the fact that a greater degree of care was certainly required from the petitioner company in ensuring statutory compliances. Looking to the fact that annual returns and balance sheets were not filed for almost seventeen years, the primary responsibility for ensuring that proper returns and other statutory documents are filed, in terms of the statute and the rules, remains that of the management. Accordingly, the petition is allowed. The restoration ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nery, plant equipment accessories and spores required for and used for printing, binding, perforating, folding, stitching or manufacture of other stationery used for such purposes. Presently, the registered office of the petitioner is stated to be situated at 8-B,Bahadur Shah Jafar Marg, New Delhi- 110002. 3. The respondent initiated the proceedings under S.560 of the Companies Act, 1956 to strike the name of the petitioner off the register due to defaults in statutory compliances, namely, non-filing of Annual Returns from 2000 to 2015, and Balance Sheets from 1998 to 2015. It has been submitted on behalf of the respondent that procedure under S.560 was duly followed, with notices/letter as required under S.560(1) and S.560(3) sent at th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... fit making concern. In support of this statement, the petitioner has relied on certified copy of its annual accounts for the period 2000 to 2014 and the income tax returns for the year 2004 to 2014, copies of all of which are annexed with the petition. 7. The petitioner avers that the accounts of the company were prepared and audited every year, and the same is reflected by the annexures attached to the petition. The directors of the company signed the annual accounts of the company but because of lack of legal knowledge, inadvertence and unawareness regarding the annual filing with the Registrar of Companies did not ever question or took steps to carry the statutory compliance. The accountant of the company was aware and duly received a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Objection of the directors, to the restoration of the name of the company to the Register maintained by the respondent have also been placed on record. 10. In Purushottamdass and Anr. (BulakidasMohta Co. P. Ltd.) v. Registrar of Companies, Maharashtra, Ors., (1986) 60 Comp Cas 154 (Bom), the Bombay High Court has held, inter alia, that; 18. The object of section 560(6) of the Companies Act is to give a chance to the company, its members and creditors to revive the company which has been struck off by the Registrar of Companies, within a period of 20 years, and to give them an opportunity of carrying on the business only after the company judge is satisfied that such restoration is necessary in the interests of justice. This d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s certainly required from the petitioner company in ensuring statutory compliances. Looking to the fact that annual returns and balance sheets were not filed for almost seventeen years, the primary responsibility for ensuring that proper returns and other statutory documents are filed, in terms of the statute and the rules, remains that of the management. 12. Accordingly, the petition is allowed. The restoration of the company s name to the Register maintained by the Registrar of Companies will be subject to payment of costs of ₹ 22,000/- to be paid to the common pool fund of the Official Liquidator, and the completion of all formalities, including payment of any late fee or any other charges which are leviable by the respondent fo ..... X X X X Extracts X X X X X X X X Extracts X X X X
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