TMI Blog2017 (1) TMI 1266X X X X Extracts X X X X X X X X Extracts X X X X ..... Companies maintained by the Respondent. Upon the Petitioner Company filing all the statutory documents i.e. Annual Returns and Balance Sheets till date, along with the prescribed filing fee and additional fee in compliance with all the statutory requirements, the name of the Petitioner Company, its directors and members shall, stand restored to the Register of Companies maintained by the Respondent, in accordance with Section 560(6) of the Act, as if the name of the Petitioner Company had not been struck off. - CO.PET. 191/2016 - - - Dated:- 21-12-2016 - MR. SIDDHARTH MRIDUL, J. For The Petitioner : Mr. Bharat Beriwal, Advocate For The Respondent : Ms.Sunieta Ojha, Advocate JUDGMENT SIDDHARTH MRIDUL, J . ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n vehicles, Industrial and commercial establishments, railways, Aircrafts, ships, boats, lorries, buses and residential units. 4. The registered office of the Petitioner Company is stated to be situated at 108A, Madangir, New Delhi-110062, within the jurisdiction of this Court. 5. The Petitioner Company was incorporated with an authorised share capital of ₹ 10,00,00,000/- divided into 1,00,00,000 equity shares of ₹ 10/- each and subscribed capital of ₹ 2,49,00,010/-, divided into 24,90,001 equity shares of ₹ 10/- each. 6. It has been stated by learned counsel appearing on behalf of the Petitioner Company that due to general depression in the market during the years 2011-2013, inter alia, the Petitio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... om 05.04.2014 to 11.04.2014). Thereby, the Petitioner Company was dissolved without being wound up. 10. The Petitioner Company, by way of present petition under Section 560(6) of the Act, seeks restoration of its name in the Register of Companies maintained by the Respondent, on the ground that there has been a change of business environment in the country. It has been stated by counsel appearing on behalf of the Petitioner Company that because of government s special attention towards ease of doing business in the country, there is a renewed excitement in the air-conditioning market and that it is expected to grow at a rapid pace of upto 12% per annum. It has been further stated that the Petitioner Company is contemplating to start a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ter, order the name of the company to be restored to the register ; and the Court may, by the order, give such directions and make such provisions as seem just for placing the company and all other persons in the same position as nearly as may be as if the name of the company had not been struck off. 14. A bare reading of Section 560(6) of the Act reveals that for the name of the Company to be restored in the Register of Companies, the petition should be instituted either by the company or any creditor or member thereof, aggrieved by the name of the company being struck off, within a period of twenty years from the date of publication of the notice under Section 560(5) of the Act. The said Section further provides that it is only if t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... As a matter of law, it cannot be said that where the company s name has been struck off on an application filed under Simplified Exit Scheme, the company cannot be restored. In fact, the Madhya Pradesh High Court in VI Brij Fiscal Services P. Ltd. v. Registrar of Companies , (2010) 155 Comp.Cas. 157 (MP) has restored a company which had been struck off under the Simplified Exit Scheme 17. In view of the foregoing, and upon considering the facts and circumstances of the present case, I am of the view that it would be just and proper to order restoration of the name of the Petitioner Company in the Register of Companies maintained by the Respondent. 18. Upon the Petitioner Company filing all the statutory documents i.e. Annual R ..... X X X X Extracts X X X X X X X X Extracts X X X X
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