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TMI Blog2020 (10) TMI 698X X X X Extracts X X X X X X X X Extracts X X X X ..... ter alia seeking to restore the name of the Company namely M/s. SRK Sugars Private Limited in the Register of Companies maintained by the Registrar of Companies as if its name had not been struck off from the rolls of the Register. 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. SRK Sugars Private Limited (hereinafter referred to as 'Company') was incorporated on 19.02.2014 as a Private Limited Company under the provisions of the Companies Act, 1956 bearing CIN: U15422KA2014PTC073717 and having its registered office at No. 1, Near Bus Stand Ilkal Hungund, Bagalkot-587125, Karnataka. Its Authorized Share Capital is Rs. 1,00,000/- (Rupees One La ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Company were prepared and audited to perform the task of filing the returns with the office of the ROC and in mean time, the name of Company was struck off by the ROC, so the Company not able to file the pending Financial Statements and Annual Returns for the period 2014-15 to 2017-18. The Company failed to file the said documents due to inadvertence and there were no ill intentions on the part of the Company or their Directors and also stated to file all the outstanding documents with the Respondent upon its restoration along with fees, as applicable. (4) It is further stated that the Company is in sugar production and related industry for which actual production has long gestation period, the management of the Company has taken positive ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mpugned order of striking off the Company is in accordance with the law. However, they have no objection to restore the name of Company, as prayed for, subject to compliance of filing all outstanding statutory documents, payment of costs etc. it is declared that there is no inquiry, investigation and complaints against this Company and expressed no objection to restore the name of Company, as prayed for, however, subject to payment of costs and complying with pending statutory documents. 4. Heard Shri Roshan Raikar, learned PCS for the Petitioner through Video Conference. We have carefully perused the pleadings of the parties and extant provisions of the Companies Act, 2013 and the Rules made thereunder. 5. Shri Roshan Raikar, learned PCS ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e and ease of doing business, instead of rigidly interpreting the law on the issue. It is also not in dispute that the instant Company Petition is filed in accordance with law; there are no investigations pending against the Company; the Respondent has not opposed the Petition; and left the issue to Tribunal to consider the case subject to terms and conditions. Therefore, we are of the considered opinion that interest of justice would be made if the name of Company is restored as prayed for, however, subject to conditions mentioned below. 7. By exercising the powers conferred on this Tribunal u/s 252 (3) of the Companies Act, 2013, and following the principle of ease of doing business, C.P. No. 59/BB/2020 is hereby disposed of with the fol ..... X X X X Extracts X X X X X X X X Extracts X X X X
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