9911796707
TMI Blog2020 (9) TMI 520X X X X Extracts X X X X X X X X Extracts X X X X ..... ter referred to as the Company) seeking restoration of its name in the register of companies maintained by Registrar of Companies, Maharashtra in Mumbai (RoC, Mumbai). 2. The Company was incorporated on 19.06.1991 vide CIN: U72900MH1991 PTC062138 under the Companies Act, 1956 in the State of Maharashtra. The Authorised Share Capital of the Company is Rs. . 1,00,000/- (Rupees One Lakh only) divided into 10,000 (Ten Thousand) Equity Shares of Rs. . 10/- (Rupees Ten only) each. The issued, subscribed and paid up Share Capital of the Company is Rs. 1,00,000/- (Rupees One Lakh only) divided into 10,000 (Ten Thousand) Equity Shares of Rs. 10/- (Rupee Ten Only) each. The Appellant is the Director of the Company. 3. The main object of the Company ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Financial Statements for a period of seven immediately preceding financial years and has not made any application within the stipulated period for obtaining the status of Dormant Company and thereby the Respondent struck off the name of the Company from the register of companies. The Company has been carrying on its business at the time of its name was struck off. The Company is having assets and liability of its own. 7. It is further submitted that, the Company has not applied for Dormant status, as mentioned in section 455 of the Act. Also, no huge amount in cash has been deposited after demonetization during the period from 08.11.2016 to 31.12.2016. Affidavits in this respect have been annexed to the Petition. 8. The Appellant has s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... go out of business. We are satisfied that the name of the Company should be restored in the Register of Companies. However, we are not inclined to direct the MCA, GoI to restore the names of the Directors in the master data of the Company under section 252 (1) of the Act. The Director(s) however are at liberty to approach the Competent Authority for the purpose. In that event the Appropriate Authority may pass necessary orders, taking into consideration the fact the name of the Company has been restored in the register of companies, RoC, Mumbai. Hence ordered. ORDER The Appeal be and the same is allowed in part without contest. The prayer for restoration is allowed. The prayer to direct the Ministry of Corporate Affairs (MCA), Government ..... X X X X Extracts X X X X X X X X Extracts X X X X
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