9911796707
TMI Blog2019 (9) TMI 465X X X X Extracts X X X X X X X X Extracts X X X X ..... he provisions of the Companies Act, 1956 (for short 'the Act') with its main objects being engaged in business of manufacturing, trading, importing and exporting of and dealing in all other similar kind of textile goods of all varieties and distinctions and hosiery goods with registered office located at Model Town, Delhi and having authorized capital of Rs. 20 Lakhs came to be struck off from the Register of Registrar of Companies vide notice STK-7 dated 21st August, 2017 for being inactive. Appeal preferred by the shareholders of the Company under Section 252 (3) of the Act seeking restoration of the name of the Company to the Register of Companies maintained by the Respondent - 'Registrar of Companies, NCT of Delhi & Haryana (for short ' ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Company. The Company maintained that it did not receive any show cause notice or communication from ROC and no opportunity was granted to it to file pending documents before striking off the name of the Company. Respondent - ROC contested the appeal before Tribunal pleading that the Company was struck off for not being in operation and not carrying on any business for a period of two years immediately preceding relevant financial year and not obtaining the status of a Dormant Company. It was urged before the Tribunal that the Company has filed its Annual Return and Balance Sheet for financial year ended on 31st March, 1993 and 31st March, 1992, respectively. On consideration of the respective stands of the parties, the Tribunal found that t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... king one time settlement with the lender. It is further urged in appeal that the fixed assets being land standing in the name of Company was acquired by Haryana Government under Award no.1 dated 28th October, 1998 for HSIIDC, Kundli. The Appellants filed petitions for enhancement of compensation in regard to the Company's land acquired by the Haryana Government, which was awarded and against which appeals are being contested by the Appellant Company before Hon'ble High Court of Punjab and Haryana. However in the meantime, the Company's name was struck off by the Respondent under Section 248 of the Act without issuing any prior notice to the Appellants Company and its Directors in total violation of the requirements of Section 248 (1) of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Tribunal while dismissing the appeal. Our attention has been invited to non-realization of an amount of Rs. 73,14,511/- remitted by HSIIDC in regard to the value of the assets due to freezing of the bank account of the Company. Same is stated to be the case in regard to amount of Rs. 5,76,260/- deposited by HSIIDC towards TDS deducted with the Income Tax Department on 27th February, 2018. It is therefore urged that such realizations would not be effected unless the Company's name is restored in Register of Companies. 5. Heard learned counsel for the parties and perused the records. 6. Leaned counsel for the Appellants has reiterated the grounds urged for restoration of the name of Company to the Register of Companies by laying stress on t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... es to clandestine removal of the machinery, raw material and finished goods, etc. by one of the Directors in respect whereof criminal investigation is stated to be underway after an FIR has been registered. Same is true about the alleged transfer of Car belonging to the Company by the same accused Director to his relative. The second event relates to acquisition of the fixed assets i.e. the land belonging to the Company by HSIIDC, in respect whereof compensation has been awarded and litigation by the Appellants has fructified in enhancement of compensation regarding which an execution petition is stated to be pending consideration before learned Additional District Judge, Sonipat. It is brought to our notice that the amount of compensation ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
