TMI Blog2020 (9) TMI 446X X X X Extracts X X X X X X X X Extracts X X X X ..... market conditions, financial issues etc. The documents relied upon by the Appellant unmistakably demonstrate that the Appellant Company is a living entity. The provisions pertaining to restoration of the name of the company has been provided in Section 252 of the Companies Act 2013, which includes that, if it is just and equitable to restore the name of the company in the Registrar of Companies, it may direct the ROC to restore the name in its Register - The Appellant has been able to satisfy this bench that it has certain assets which necessitate and justify the restoration of its name in the Register of Companies. A step as stringent as what has been taken at least requires an opportunity to the appellant to take remedial measures. Mer ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... gistrar of Companies, Uttar Pradesh U/s 248 of the Companies Act, 2013 read with Companies (Removal of Names of Companies from the Register of Companies) Rules, 2016, from the Register of Companies maintained by the Registrar of Companies, Uttar Pradesh. 2. Facts of the appeal are stated as under: i. The Appellant Company Rabia Textiles Private Limited was originally incorporated on 31.01.1989 with the Registrar of Companies, Uttar Pradesh having CIN UI711UR1989PTC010421. ii. The authorized share capital of the Appellant Company is ₹ 5 Lakh and paid up capital is ₹ 1 Lakh and it is involved in business of spinners, weavers, knitters and alike nature of wok since its incorporation. The same is mentioned in the Memorandum ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tated that neither any representation was received from company/its directors nor was any objection received from any person, accordingly, the company was dissolved. 4. Further, the Income Tax Authorities in its representation mentioned that the Appellant Company has filed its Income Tax Returns only for Assessment Year 2018-19 on 14.08.2018 in which the Appellant declared a total income of ₹ 26,300/-. It is stated that there is no demand pending against the Company. 5. Further, in order to corroborate its submission, the Appellant has placed before us the Audited Balance Sheet reflecting Revenue from operations amounting to ₹ 7,05,000/-, Assets (fixed and non- current) amounting to ₹ 1,19,600/-, Total expenses inclu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mistakably demonstrate that the Appellant Company is a living entity. 9. This Tribunal has examined the relevant provision applicable for restoration of the name of the company as provided in Section 252 of the Companies Act 2013 and as per the facts and circumstances of the case, it will be in the interest of the Company, its Shareholders and Creditors, the name of the Company be ordered to be restored by this Bench while exercising its jurisdiction U/s 252 of the Companies Act, 2013 read with Rules made thereunder. 10. The provisions pertaining to restoration of the name of the company has been provided in Section 252 of the Companies Act 2013, which includes that, if it is just and equitable to restore the name of the company in th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ₹ 50,0007- (Rupees Fifty Thousand Only) through online payment in www.mca.gov.in under miscellaneous fee by mentioning particulars as payment of cost for revival of Company pursuant to orders of NCLT in CA No. 324/ALD/2018. 15. The Appellant is permitted to deliver a certified copy of this order with RoC within thirty days of the receipt of this order. On such delivery and after duly complying with above directions, the Registrar of Companies, Kanpur is directed to, on his office name and seal, publish the order in the Official Gazette. 16. The Appellant shall publish a notice in leading newspaper in the district, regarding restoration of company after taking approval of the draft notice from RoC. The RoC is directed to verify ..... X X X X Extracts X X X X X X X X Extracts X X X X
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