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TMI Blog2019 (9) TMI 1462X X X X Extracts X X X X X X X X Extracts X X X X ..... ter data of the company is at Page No. 32 of the petition. The CIN of the Company is U67120PB1991PTC011212. The Company was incorporated on 27.03.1991. The registered address of the company is 5, Sant Ashar Singh Nagar, Pakhowal Road, Ludhiana, Punjab. Therefore, the matter falls within the territorial jurisdiction of this Tribunal. 2. The petition is accompanied by affidavit verified by Ms. Rohini Sawhney, Shareholder of the petitioner Company seeking restoration of name in the Register of Companies, wherein it has been deposed that she is a shareholder of the petitioner company. It is stated that Ms. Rohini Sawhney hold 10 shares in the petitioner company. 3. The certificate of incorporation of the Company is at Annexure II (Colly). The ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... per notice in STK-1 dated 05.06.2018 and in STK-7 dated 11.09.2018. The name of the Company is stated to be at Serial No. 1589 in the Form STK-7. 5. It is submitted that the Company is active since its incorporation and is a going concern; maintaining all requisite documentation and having its accounts being timely prepared. It is also stated that the petitioner company has last filed its Financial Statements/Annual Returns with the Registrar of Companies for the financial year 2012-13. The same fact could be verified from the master data of the company, being appended with the petition. 6. It is further deposed that the non- filing of statutory documents with the Registrar of Companies was due to the fact of disqualification of the dire ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Court of Delhi. Copy of the sole arbitral award and order of Hon'ble High Court of Delhi are a part of Annexure VII of the petition. 10. It is further submitted that this property is now free and available to the company to carry on and explore business activities in the future. 11. The Company has submitted that in the event of restoration of the name of the Company in the Register of Companies, the Company shall file all outstanding statutory documents. 12. The ROC has filed the report vide Diary No. 922 dated 22.02.2019. It is stated that the Company had not filed its financial statements since the financial year 2013-14 due to which the ROC had reasonable cause to believe that the Company was inactive and in terms of provisions o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on 248 may, if satisfied that the company was, at the time of its name being struck off, carrying on business or in operation or otherwise it is just that the name of the company be restored to the register of companies, order the name of the company to be restored to the register of companies, and the Tribunal may, by the order, give such other directions and make such provisions as deemed just for placing the company and all other persons in the same position as nearly as may be as if the name of the company had not been struck off from the register of companies" 16. The present petition is filed by the shareholder of the Company and is within the period of 20 years from publication in the Official Gazette of notice under Section 248(5) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as carrying on business or in operation or in operation at the time of its name being struck off from the Register of Companies. In the submissions made on behalf of the ROC and the Income Tax Department, no objection to the restoration of the name of the Company, has been raised. 20. It is therefore, held that the ingredients provided for in Section 252(3) of the Act, are satisfied. 21. In view of the above, the petition is allowed and the name of the company be restored in the Register of Companies, subject to deposit of Rs. 20,000/- (Rupees Twenty Thousand) as costs with the Pay and Accounts Officer, Ministry of Corporate Affairs within a period of three weeks from the receipt of certified copy of this order. Further directions are iss ..... X X X X Extracts X X X X X X X X Extracts X X X X
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