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TMI Blog2017 (11) TMI 1337X X X X Extracts X X X X X X X X Extracts X X X X ..... iate orders be passed for revival/restoration of the name of the company-Navbhart Gasflame Marketing Co. Pvt. Ltd. on the register of the Registrar of Companies, Ministry of Corporate Affairs, New Delhi and place the company and all other persons in the same position as nearly as possible as if the name of the petitioner No. 1-company has never been struck off. A further direction has been sought to the Registrar of Companies - respondent to file a certified copy of the order of this Tribunal within the requisite time. Brief facts of the case are that Navbhart Gasflame Marketing Co. Pvt. Ltd.- petitioner No. 1 was incorporated on 24.11.1997 under the provisions of the Companies Act, 1956 as a private limited company vide certificate of inc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 560(6) a remedy for revival of the company has been provided and on the grounds given therein a company could be revived and its name is restored on the register of the Registrar of Companies. The aforesaid provision reads as under: - "560. Power of Registrar to strike defunct company off register.- (1) Where the Registrar has reasonable cause to believe that a company is not carrying on business or in operation, he shall send to the company by post a letter inquiring whether the company is carrying on business or in operation. (2) If the Registrar does not within one month of sending the letter receive any answer thereto, he shall, within fourteen days after the expiry of the month, send to the company by post a registered letter re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... egister, 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 director, manager or other officer who was exercising any power or management, and of every member of the company, shall continue and may be enforced as if the company had not been dissolved; and (b) nothing in this sub-section shall affect the power of the Court to wind up a company the name of which has been struck off the register. (6) if a company, or any member or creditor thereof, feels aggrieved by the company having been struck off the register, the [Tribunal], on an application made by the company, member or cred ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rar of Companies is patent from paras 6 & 10 of the reply on merit which are as under: - "6. That with regard to the contents of para No. 1.5 of the petition, it is submitted that authorized share capital of Navbhart Gasflame Marketing Co. Private Limited was Rs. 1,00,000 divided into 10,000 equity shares of Rs. 10 each and Subscribed capital was Rs. 300 divided into 30 equity shares of Rs. 10 each and the same was less as per provisions of sub-section (3) of section 3 of the Companies Act, 1956. That with regard to the contents of para no. 3 of the petition, it is humbly submitted that the procedure for striking off name of company was followed by issue of notices/letter as per provision of section 560(1) and 560(3) of the Companies Ac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... it has any property. According to the provisions of Section 560 of the Act the name of a company could be restored on the register of the Registrar of Companies if it is carrying on business or it is in operation. The relevant time for proving the operation or business has to be in the year 2007 when its name was struck off as per Section 560 (6) of the Act. There is no explanation put forward why the company remains in slumber from 1998 to 2014 and what was the business activity from 2007 to 2014. It is pertinent to notice the definition of private 'company', inter alia, given in Section 3 of the Companies Act, 1956 which reads as under:- "3, Definitions of "company", "existing company", "private company" and "public company".- (1) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ee. (4) . . . . . . . . . . . . . (5) Where a private company or a public company fails to enhance its paid-up capital in the manner specified in sub-section (3) or sub-section (4), such company shall be deemed to be a defunct company within the meaning of section 560 and its name shall be struck off from the register by the Registrar." A perusal of the aforesaid provision would show that a private company means a company which has a minimum paid - up capital of one lakh rupees or such higher paid-up capital as may be prescribed by its articles [Section 3(1)(iii)]. It is evident from the perusal of sub-section 3 of Section 3 that every private company with a paid-up capital of less than one lakh rupees was required to enhance its paid ..... X X X X Extracts X X X X X X X X Extracts X X X X
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