TMI Blog2020 (11) TMI 160X X X X Extracts X X X X X X X X Extracts X X X X ..... ustify the restoration of its name in the Register of Companies. A step as stringent as what has been taken at least requires an opportunity to the appellant to take remedial measures. Merely to disallow restoration on grounds of its failure to file annual returns would neither be just nor equitable. As per several decisions of various courts it should only be an exceptional circumstance that court should refuse restoration where the company has been struck off for its failure to file annual return as that would be excessive or inappropriate penalty for that oversight. The Registrar of Companies, the Respondent herein, is ordered to restore the original status of the Appellant Company as if the name of the Company has not been struck off ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... entioned in the Memorandum of Association of the Company. iii. Appellant submitted that the Registrar of Companies (Respondent herein) vide Public Notification dated 28.08.2018, struck off the Appellant Company's name due to default in statutory compliances w.r.t. filing of Financial Statements and Annual Returns, thus giving the status of a Dormant Company u/s 455(1) of Companies Act, 2013. iv. Appellant also stated that since incorporation, the appellant company has duly complied with all the regulatory compliances of the Companies Act and further stated that due to some internal disputes among the directors, lack of professional guidance and inadvertent reasons, the appellant Company could not filed the annual return to the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o be an ongoing concern. As per the above details, the Appellant Company is having substantial movable as well as immovable assets. Therefore, it cannot be said that the Appellant Company is not carrying on any business or operations. 6. Further, it is averred by the Appellant Company, that, in the event of revival of the Company and restoration of the name of the Company in the Register maintained by the Registrar of Companies, the Appellant shall file all the outstanding statutory documents i.e. the Financial statements and Annual returns upto date. 7. Heard the rival sides and perused the record. It is not in controversy that the Appellant Company incorporated on 01.08.2012 with main object of Building completion including activiti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e in its Register. 10. The Appellant has been able to satisfy this bench that it has certain assets which necessitate and justify the restoration of its name in the Register of Companies. A step as stringent as what has been taken at least requires an opportunity to the appellant to take remedial measures. Merely to disallow restoration on grounds of its failure to file annual returns would neither be just nor equitable. As per several decisions of various courts it should only be an exceptional circumstance that court should refuse restoration where the company has been struck off for its failure to file annual return as that would be excessive or inappropriate penalty for that oversight. 11. Accordingly, it is therefore the Registra ..... X X X X Extracts X X X X X X X X Extracts X X X X
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