TMI Blog2019 (4) TMI 1091X X X X Extracts X X X X X X X X Extracts X X X X ..... atus of the Company as if the name of the company has not been struck off from the Register of Companies and take all consequential actions like change of company's status from 'strike off' to Active (for e-filing), to restore and activate the DINS, if applicable, to intimate the bankers about restoration of the name of the company so as to defreeze its accounts. - CA No. 79/252/HDB/2019 - - - Dated:- 10-4-2019 - Shri Ratakonda Murali, Member (Judicial) For the Appellant : Ms Sherry Samuel Oommen, Advocate For the Respondent : Shri B. Jithender, CGSC, Roc (H) ORDER 1. The Applicant Mr. Brijeesh Mohamed, Shareholder of M/S. BRAN ETECHNOLOGIES PRIVATE LTD (herein referred to as Company ) filed the present A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , issued show cause notice in Form STK-I and public notice i.e. ROC/HYDERABAD/STK-I/REVISED in Form No. STK-5 dated 05.05.2017 on the ground that the Company failed to file Financial Statements Annual Return for the period 2012-13, 2013-2014, 2014-2015, 2015-2016, and 2016-2017 under Section 248 of the Companies Act, 2013. (e) It is averred Applicant was under the impression that previous Directors of the Company would have complied with statutory compliances as per laws. It is only on enquiry with the Company's Bankers i.e. Federal Bank the Applicant came to know that previous Directors misused the Digital Signature of the Applicant and all books of accounts relating to the Company were in the custody of the Previous Directors whi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rs, company is holding the stock worth ₹ 1,33,21,514 (One Crore Thirty Three Lakhs Twenty One Thousand Five Hundred And Fourteen Only). Unless the name of the company is restored, the company would not be able to dispose of this stock. (n) Further Applicant states that none of the creditors / shareholders or any person at large will be prejudiced if the name of the Company is restored in the register of the Companies maintained by ROC Hyderabad. (o) The Applicant further states that upon granting of prayers stated in the application, the Company shall file all its pending statutory filings immediately after the name of the Company is restored in the register maintained by ROC, Hyderabad. (p) The Applicant states that the acco ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... orming all the stake holders about STK-5 published in MCA website. Thereafter Company was marked strike off in MCA Portal and STK-7 notice was also published in the Gazette on 19.08.2017. (2) The Respondent further stated that it has no objection if the Tribunal considers the present Application for restoration of the name of the Company back to the Register of Companies U/s 252 of the Companies Act, 2016 subject to such conditions as specified therein. (3) Respondent further states that the Tribunal may direct the Company to ensure statutory compliance under applicable provisions of the Companies Act, 2013 without any delay in future. (4) Respondent has also urged this Tribunal to direct the Company to file a declaration from the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e the statutory returns on time Counsel further contended that, the Company will file necessary financial statements and Annual Returns soon after restoration oi the name of the Company with the Registrar of Companies, Hyderabad and prayed the Tribunal to revive the Company. 7. I have seen the latest Balance sheet for the Financial year ended 31.03.2018. The Company has tangible Assets worth ₹ 11,008.53 and current assets worth ₹ 1,33,22,456/-. Further, Company is holding stock worth ₹ 1,33,21,514 (One Crore Thirw Three Lakhs Twenty One Thousand Five Hundred And Fourteen Only) and Counsel would contend unless the name of the company is restored, the company would not be able to dispose of this stock. 8. After hearing ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The restoration of the Company's name is also subject to the payment of cost of ₹ 25,000/- (Rupees Twenty Five thousand only) through online payment in www.mca.gqv.in under miscellaneous fee by mentioning particulars as payment of cost for revival of company pursuant to orders of Hon'ble NCLT in CA No.79/252/HDB/2019 . 5) The applicant is permitted to deliver a certified copy of this order along with INC-28 with ROC within thirty days of the receipt of this order. 6) This order is confined to the violations, which ultimately led to the impugned action of striking of the Company, and it will not come in the way of ROC to take appropriate action(s) in accordance with law, for any other violations /offences, if any, commi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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