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TMI Blog2020 (11) TMI 327X X X X Extracts X X X X X X X X Extracts X X X X ..... toring the name of the company in the Register maintained by the Registrar of Companies, Mumbai (RoC). 2. The Petitioner submits that the Petitioner company has been incorporated to carry out the following objects: "To do the business of manufacturing, dealing in, importing and exporting, converting, processing, coating, laminating, and carrying out other operations on papers, boards, cards, newsprint, pulp and other celluloid materials including but not limited by writing and printing papers, bleached and unbleached papers, graft papers, packing and wrapping papers, absorbent papers, tissue papers, filter papers, art papers, bank or ledger papers, chrome papers, flint papers, coloured or dyed papers, cartridge papers, cloth-lined papers ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nts as per the provisions of the Companies Act, 2013. 7. The Petitioner further submits that the Company was an active Company but was unable to start its commercial operation due to lack of commercial or Bank Finance. The Petitioner infused its own funds to start its operation. 8. The Petitioner submits that the Company has no turnover. The Company has took an advance of a sum of Rs. 11,23,534/- from Coin Paper Industries which needs to be paid off from the Company's Bank account. The Petitioner also submits that one of the Directors Mr. Samir Upadhyaya has advanced a sum of Rs. 46,500 to the Company which also needs to be paid. The said advanced money is reflected in the Bank statements provided by the Company which also proves that the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rs informing the intention of the Registrar to strike off the name of the Company and requesting them to submit a cause contrary to the said action within thirty days. (b) Further, as required under rule 7 of the Companies (Removal of Name) Rules, the name of the Company was published on the website maintained by the Ministry vide STK-5 dated 19.07.2018 and issued notices not only to the Company and the Directors of the company, but also to all stakeholders concerned so as to receive their objections to the said intention of the Registrar to remove the name of the company. (c) In addition to the publication of the name of the Company on the website of the Ministry, the name was also published in the Official Gazette on 04.08.2018 and in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ster of Companies maintained by the Respondent Registrar of Companies. 16. Given the above facts and circumstances, we are satisfied that the prayer sought by the Petitioner company deserves to be allowed. ORDER Company Appeal CP No. 981/252(1)/MB/C-II/2020 filed by Appellant/Petitioner Cimmon Industries Private Limited, through its Director Smt. Jagruti Samir Upadhyaya, seeking restoration of the company's name in the Register of the Companies maintained by the Registrar of Companies, Mumbai is allowed with the following terms. The Respondent is directed to restore the name of the Petitioner company in the Register of Companies subject to payment of a sum of Rs. 50,000/- (Rupees Fifty Thousand only) as cost payable in the account of "P ..... X X X X Extracts X X X X X X X X Extracts X X X X
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