TMI Blog2020 (9) TMI 559X X X X Extracts X X X X X X X X Extracts X X X X ..... its balance sheet. Its also owing land which has got substantial value and disposal of the same cannot be done unless the company is revived. Thus, the name of the company can be restored in the Register of Companies maintained by ROC, Ahmedabad from the date of its striking off. However, for noncompliance of provisions of Companies Act, 2013 relating to non-filing of statutory returns without plausible explanation, suitable cost needs to be imposed - the name of the Company is restored on payment of costs. - Co. Appeal 49/252(3)/NCLT/AHM/2020 - - - Dated:- 20-8-2020 - M.B. Gosavi, Member (J) And Virendra Kumar Gupta, Member (T) For the Appellant/Respondent: Jay Surti, Learned PCS ORDER VIRENDRA KUMAR GUPTA, MEMBER ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . Learned Counsel, thereafter, drew our attention to the Financial Statements at page Nos. 59 to 154 of the paper book to show that the company was having both liabilities as well as assets. It was also pointed out that the company was owing land. Though, the book value of such land was ₹ 91,000/- (Rupees Ninety-One Thousand) approximately but market value was substantially higher and this land could not be disposed of unless the company was revived. Based upon these facts, learned counsel appearing for the applicant requested for restoration of the name of the Company in the Register of Companies maintained by ROC, Ahmedabad. 5. RoC did not appear, however, RoC filed its report wherein it has been submitted that matter could be de ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f Company from 'struck off to Active. (ii) The Applicant Company is directed to file all pending statutory document(s) including Annual Accounts and Annual returns for the financial years in default along with prescribed fees/additional fee/fine as decided by ROC within 45 days from the date on which its name is restored on the Register of Companies by the RoC; (iii) The Company's representative, who has filed the Company Appeal on behalf of the Applicant Company, is directed to personally ensure compliance of this order; (iv) The restoration of the Company's name is subject to the payment of cost of ₹ 25,000/- (Rupees Twenty Five Thousand Only) for each year of default through online payment in www.mca.gov.in und ..... X X X X Extracts X X X X X X X X Extracts X X X X
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