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TMI Blog2020 (12) TMI 1179X X X X Extracts X X X X X X X X Extracts X X X X ..... or, 20, Ansari Road, Darya Ganj, New Delhi 110 002 hereinafter referred to as "the Appellant-Company" invoking the provisions of Section 252 (3) of the Companies Act, 2013 (the Act) for restoration of the name of the Company in the Register maintained by the Registrar of Companies (RoC), NCT of Delhi & Haryana. The company has authorised capital of the Appellant-company is Rs. 1,00,00,000/- and paid up share capital of Rs. 30,20,200/-. 2. As per the averments, M/s. KVM Constructions Private Limited was incorporated on 14.05.1996 as a private limited company and has its registered office at R.No.203, Munish Plaza, 2nd Floor, 20, Ansari Road, Darya Ganj, New Delhi 110 002 having CIN No.U7010DL1996PTC078888. Since incorporation, the appellant ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion of its name in the record of ROC. In order to corroborate this submission the petitioner has placed before us the following evidence: i) The Company has submitted Copies of Audited financial statements for the period ending 2014-2015 and 2015-2016 along with Audited balance sheets and Auditors reports for the above periods with the petition and submitted to the respondent. Appellant has undertaken to file the pending reports. ii) The revenue from operations, Current Assets, Cash and Bank balance and Reserves & surplus for the company from 2016 - 2018 have been given as follows in the Audited Financial statements:- Assets Reserves & Surplus Revenue from operations Employees Benefit Expenses Profit Before Tax ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pellant 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 in exceptional circumstances that Courts 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. 8. Accordingly, the appeal is allowed subject to payment of costs of Rs. 25,000/- to the Prime Minister Relief Fund. The restoration of the Appellant Company's name in the Register will be subject to their filing all outstanding documents for the defaulting years as required by law and completion of all formalities, inc ..... X X X X Extracts X X X X X X X X Extracts X X X X
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