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TMI Blog2020 (10) TMI 691X X X X Extracts X X X X X X X X Extracts X X X X ..... estore the name of the Company on the Register of Companies maintained by the Registrar of Companies, Karnataka, and pass such other order(s), Direction(s) as may deem just and proper in terms of Section 252(3) of the Companies Act, 2013 in the interest of justice. 2. Brief facts of the case, as mentioned in the Company Petition, which are relevant to the issue in question, are as follows: (1) M/s. Garden City Education Pvt. Ltd (hereinafter referred to as 'Company') is a Private Limited Company incorporated on 20.04.2011 under the Companies Act, 1956 with Corporate Identity Number: U80301KA2011PTC058270 and having its registered office situated at No. 243, 3rd Main Mahalaxmi Layout, Bangalore - 560086, Karnataka, India. Its Auth ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ances, namely, failure to file financial statements & Annual Returns for the Financial year end 2012 to 2017. Consequently, the Registrar of Companies, Karnataka initiated proceedings under section 248 of the Companies Act, 2013, for the purpose of striking off the name of the company from the register maintained by the Registrar of Companies. (5) It is stated that, in view of the changed circumstances the petitioner Company is now getting enquiries and also negotiations with its perspective clients regarding the possible projects, wherein the petitioner company is confident of getting projects and also considerable revenue from the same. In view of the same it is pertinent to note here that the Petitioner Company has also finalised its F ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... /s 455 of the Act, 2013 and that the Respondent proposes to strike off the name of the Company from the Register of Companies as per Section 248 of the said Act, unless a cause is shown to the contrary within 30 days from the receipt of said notice. (2) Since no cause was shown either to the physical notices or to the website, Gazette and newspaper notices either by the Company or its Directors, and also since no Balance Sheet or Annual Return was filed by the Petitioner Company till 21.06.2017 on which the list of defaulting Companies were crystalized, the Respondent proceeded to strike of the name of the Company from its Register and published a Notice in STK-7 in the Official Gazette on 29.07.2017 stating that from 17.07.2017 names of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... isions of the Companies Act, 2013 and the Rules made thereunder. 5. It is not in dispute that the Registrar of Companies is conferred with power under Section 248(1) to strike off the Company, if the Company has failed to commence its business within one year of its incorporation or a Company is not carrying on any business or operation for a period of two immediately preceding financial years and has not made any application within such period for obtaining the status of a dormant Company under Section 455. However, Section 248(6) states that the Registrar of Companies, before finally striking off Company, has to satisfy himself that sufficient provision has been made for the realization of all amounts due to the Company and for the payme ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ce Test for Medical students. Now, there seems to be bundle of opportunities for the Company due to revision in the decision by the Hon'ble Supreme Court. It is also stated that the petitioner Company is getting enquiries and also negotiating with its prospective clients regarding the possible projects, wherein the petitioner company is confident of getting projects and also considerable revenue from the same. It is further stated that the petitioner company has also finalised its financial statements & Annual returns for the financial year end 2012 to 2018. 7. In view of the foregoing, we are convinced that the Applicant Company intends restart its business, and it would be proper to restore its name in the Register of Companies. Furt ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by the Registrar of Companies; (3) The Company's representative, who has filed the Company Petition, is directed to personally ensure compliance of this order; (4) The restoration of the Company's name is also subject to the payment of cost of Rs. 25,000/- (Rupees Twenty Five Thousand Only) to be paid online to the account of Central Government in favour of Pay & Accounts Officer, Ministry of Corporate Affairs, Southern Region, Chennai, within three weeks from the date of receipt of this order, failing which the order will lapse; (5) The Petitioner is directed to deliver a certified copy of this order to the Registrar of Companies; (6) On such delivery and after duly complying with above directions, the Registrar of Companies, ..... X X X X Extracts X X X X X X X X Extracts X X X X
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