TMI Blog2018 (2) TMI 1063X X X X Extracts X X X X X X X X Extracts X X X X ..... tion of the Company is if it is otherwise just to restore the name. ‘If it is otherwise’ means it must be any other ground other than carrying on business or in operation on the date of striking off. The ROC in his Representation did not raise any objection for restoring the name of the Company on the ground that it is involved in any act which is illegal or tax evasion. According to the Appellant, the Company is going ahead with its business and it has to pay the balance amount to the owner of the land from whom the Company purchased the land. Therefore, even otherwise it is just to restore the name of the Company. As already stated above, the Company had filed copies of Bank Statement and Income Tax Returns. Therefore, this Tribunal is of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y. The Memorandum of Understanding (MOU) is filed as Annexure B . 3. According to the Appellant, the Company has to make balance payment within one year from the date of the MOU and if the name of the Company is not restored the Company and all the shareholders will suffer irreparable loss. The Appellant filed the list of shareholders along with Certificate of the Chartered Accountant. Appellant filed Affidavit stating that he had obtained consent of all the shareholders of the Company for restoration of the name of the Company in the Register of Companies. 4. The Company received a notice dated 6.3.2017 under Section 248(1) and (2) of the Companies Act, 2013 from the Registrar of Companies stating that the Company has failed to comm ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e of the Company under Section 252(3) of the Act subject to the following conditions; (1) The petitioner will file all the overdue statutory returns viz. Balance sheet and Annual Return for the years which have not been filed and also other event based documents if any, with fees and additional fees as required under Companies Act, 2013; (2) The publication of notice in two leading newspapers circulating in the district and official Gazette of government of India, in regard to the restoration of the name of the company on the register maintained in the office of the respondent as per the draft approved by the respondent, at the cost of the petitioner; (3) The petitioner will produce the Acknowledgement of filing of all the Income T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rom the documents filed by the appellant on 23rd August, 2016 it appears that the Company entered into the MOU to purchase certain lands for the purpose of development. The Bank s account also shows certain transactions relating to the Company by the date of striking off the Company. 10. Even otherwise, another ground that is available for restoration of the Company is if it is otherwise just to restore the name. If it is otherwise means it must be any other ground other than carrying on business or in operation on the date of striking off. The ROC in his Representation did not raise any objection for restoring the name of the Company on the ground that it is involved in any act which is illegal or tax evasion. According to the Appella ..... X X X X Extracts X X X X X X X X Extracts X X X X
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