TMI Blog2020 (9) TMI 522X X X X Extracts X X X X X X X X Extracts X X X X ..... ip and irreparable loss shall be caused to the said Company, its members and its creditors. It is satisfactory that the prayer sought by the Petitioner Company deserves to be allowed - Respondent is directed to restore the name of the Petitioner Company in the register of companies subject to payment of a sum of ₹ 50,000/- as cost payable in the account of Pay and Accounts Officer, Ministry of Corporate Affairs, Mumbai within 10 days from the date of receipt of copy of this order. Consequentially thereupon the Bank Accounts if freeze shall get defreeze and to be operated by the Company. - CP No. 3127/252/MB/2019 - - - Dated:- 31-8-2020 - Smt. Suchitra Kanuparthi, Member ( Judicial ) For the Petitioner : Mr. P. S. Thakre, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ny from the register of companies. 5. The grievance of the Petitioner is that the Respondent struck off the name of the Petitioner Company vide Form STK-7 from the register of companies maintained by the Registrar due to defaults in statutory compliances on part of the Petitioner for non-filing of financial statements annual returns for the financial years 2013-14, 2014-15, 2015-16 and 2016-17, 2017-18, i.e, for 5years. 6. The Petitioner submits that the Company has audited the financial statements till financial year 2017-18 and conducted the Annual General Meetings of the respective financial years. But inadvertently and due to lack of communication between the board and the professional expertise, the Company could not file its s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... plained the sequence leading to the striking off the company as follows: (a) The Respondent submits that the Petitioner Company has failed to file the statutory returns for a continuous period of more than two years since 2013, i.e., Financial year 2013-14 and the Company is not carrying on any business or operation for a period of two immediately preceding financial years and neither has filed an Application under Section 455 of the Companies Act 2013 within such period for obtaining the status of a Dormant Company. (b) The Respondent issued STK-1 Notice on 11.03.2017 to the company and its directors informing the intention of the Registrar to strike off the name of the company and requesting to submit a cause contrary to the said ac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 77; 20,442 for the financial year ending 31st March 2017. 12. On hearing the submissions of the Professional appearing on behalf of the Petitioner Company and perusal of the Reply of Registrar of Companies, Maharashtra in Pune and the documents submitted, it is clear that the Company is in operation. The Respondent struck off the name of the Company, as the Company failed to file statutory returns for a continuous period of more than two years. However, the Company is in business operation and therefore, unless the relief sought is granted to the Company, grave hardship and irreparable loss shall be caused to the said Company, its members and its creditors. 13. Given the above facts and circumstances, it is satisfactory that the praye ..... X X X X Extracts X X X X X X X X Extracts X X X X
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