TMI Blog2020 (11) TMI 249X X X X Extracts X X X X X X X X Extracts X X X X ..... n 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 from the Registrar of Companies and take all consequential actions such as change of Company's statu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... itted that the Registrar of Companies (Respondent herein) vide Public Notification dated 03.07.2017, 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 the Company has been active since its incorporation and had continuously maintained all the financial accounts including financial statements and Profit Loss account as required under the Companies Act, 1956 and Rules made thereunder. It is also submitted that the Company had complied with all statutory filings with Registrar of Companies within prescribed time. 3. Upon notice being ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eunder. 7. The provisions pertaining to restoration of the name of the company has been provided in Section 252 of the Companies Act 2013 which includes that, if it is just and equitable to restore the name of the company in the Registrar of Companies, it may direct the ROC to restore the name in its Register. 8. 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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