TMI Blog2016 (8) TMI 129X X X X Extracts X X X X X X X X Extracts X X X X ..... iod t 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 fourteen 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 of the company’s name to the Register maintained by the Registrar of Com ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cessing and developing of polyprothelene, P.V.C. plastics, adhesive, synthetic resins and compounds, rubbers, rexines, intermediates and compositions and bye-products thereof. Presently, the registered office of the petitioner is stated to be situated at 823, Vikasdeep Building, Laxmi Nagar, District Centre, Delhi- 110092. 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 and Balance Sheets after 2002. 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 the add ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mpany for his own residence. That the said director intends to vacate the said property of the petitioner company and now the same can be let out, therefore the petitioner company is intending to enter into a lease deed for the purpose of letting out the said property on lease, which can fetch a rent of ₹ 1 ,25,000/-,(Rupees One Lac Twenty Five Thousand Only) to the petitioner company, which the petitioner company would use towards discharging its outstanding liabilities to the tune of ₹ 37,53,704/- as on 31.03.2014. 7. It is further stated by the petitioner that it did not receive any notices/letters/show-cause notices as required under Section 560(1) and (2) of the Companies Act, 1956, nor was it afforded any opportunity ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... with filing fee and additional fee, as applicable on the date of actual filing. The certificates of No 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. 11. In Purushottamdass and Anr. (Bulakidas Mohta 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 a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... .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 fourteen 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. 13. 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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