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TMI Blog2020 (9) TMI 473X X X X Extracts X X X X X X X X Extracts X X X X ..... y, Blue Sea Sites Private Limited (hereinafter referred to as the 'company') under Section 252(1) of the Companies Act, 2013 (hereinafter referred to as the 'Act') seeking restoration of the name of the Company in the Register of Companies. The master data of the Company is at Page 19 of the Petition. The CIN of the Company is U70100CH2005PTC029370. As per the master data of the company, the company was incorporated on 15.12.2005. The registered address of the company is at House No.44, village Bahlana, U.T., Chandigarh and therefore, the matter lies within the territorial jurisdiction of this Tribunal. 2. The petition is accompanied by affidavit which is signed and verified by Mr. Manoj Jain, Director of the petitioner-company. The same i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ide Form No.STK-5, through public notice No.208 dated 02.08.2018 initiated proceedings under Section 248(1) of the Companies Act, 2013, and vide Form No.STK-7 dated 11.09.2018, Gazette Notification in terms of Section 248 of the Act was published notifying the names of the companies which were struck off. The name of the company is stated to be at Serial No.2609 in the Form STK-7 (Annexure 4 of the petition). 5. It is submitted by the petitioner that after the incorporation the company, the company signed letter of consent on 16.12.2005 (Annexure A- 5a) for purchase of land under Punjab Apartment and Property Regulation Act, 1995 (as amended from time to time) and entered into an agreement to sell on 07.01.2006 (Annexure 5) for purchase of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the last 11 years i.e. 2006-07 to 2016-17 due to which the ROC had reasonable cause to believe that the Company was inactive and in terms of provisions of Section 248 of the Act, read with Rule 7 & 9 of the Companies (Removal of Names of Companies from the Register of Companies) Rules, 2016, the name of the Company was struck off from the Register of Companies and Gazette Notification in terms of Section 248 of the Companies Act, 2013 was published notifying the names of companies which were struck off. A copy of Gazette of India Notification No.37 is at Annexure R-2 of the ROC report and the name of the company is appearing at Sr. No.2609. It has been prayed that the Company may be directed to show that at the time of striking off, it was ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion, it is stated that petitioner-company has commenced business from the date when advance for purchase of the land was given. It has also been stated that due to the dispute that arose between the company and the land owners, resulting in litigations before the civil court and Hon'ble Punjab and Haryana High Court, wherein stay has been granted by the Hon'ble Punjab and Haryana High Court, the company has not surrendered its right in land and no decision for discontinuation of the project has been taken till date and therefore, it can be said that the company has been carrying business till date and due to unavoidable circumstances, construction could not be started. With regard to the ground of having not made any application within such ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... gh Court (Annexure 8) and the Hon'ble High Court granted an interim direction to the effect that the interim orders operating before the trial court shall continue till further orders and same is subsisting even till date. Orders reserved." 13. We have heard the learned counsel for the petitioner and the learned counsel for the Income Tax Department and have also perused the record. 14. The petition is filed under Section 252(1) of the Act, however, it can be seen that it actually satisfied the provisions of Section 252(3) of the Act and it would be appropriate to consider and decide the present petition under Section 252(3) of the Act. 15. Section 252(3) of the Act reads as under:- "(3) If a company, or any member or creditor or w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Act, 1961. It has been stated that an appeal against the demand is pending before the Commissioner of Income Tax (Appeals)-2, Chandigarh. It would be in the interest of Income Tax Department that the company is revived so that recovery proceedings can be continued by the Department, expeditiously. 19. It could also be seen that the petitioner-company has entered into agreement to purchase the land (Annexure 5) and the learned counsel representing petitioner-company has submitted that the company has filed appeal against the civil suit in respect of the specific performance before the High Court of Punjab and Haryana 20. It is therefore, held that ingredients provided for in 252(3) of the Act, are satisfied. 21. In view of the above discu ..... X X X X Extracts X X X X X X X X Extracts X X X X
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