TMI Blog2021 (1) TMI 189X X X X Extracts X X X X X X X X Extracts X X X X ..... Documents in view of the invalidation of Sale Deed. Now, the company has acquired this property and can utilize it to carry on its business activities. The company has been able to show that they owns the property during 2017 when its name being struck off from the Register of Companies. As per the report made on behalf of the RoC, no objection to the restoration of the name of the company, has been raised. The Tribunal is of the opinion that it would be just and proper to order restoration of the name of the company in the register of companies - Application allowed subject to conditions imposed. - CA No. 35 (KOB) of 2020 - - - Dated:- 29-7-2020 - Ashok Kumar Borah, Judicial Member For the Petitioner : Sherry Samuel Oommen, Ad ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uck off the company's name from the register of companies having regard to the provisions of section 248 of the Act. The counsel further submitted that the company has been struck off without following the procedure prescribed under section 248 of the Act and stated that no notice has been served either on the company or its past directors as mandated under section 248 (1) of the Act. The counsel for the appellant stated that the entire proceedings of strike off was undertaken by the respondent behind the back of the appellant and other shareholders; and is thereby violative of the principles of natural justice. 3. It is stated that based on an Award of Kerala State Legal Service Authority, Kottarakkara Taluk Committee, two documents ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f the company was embroiled in litigation and the past directors of the company were responsible for gross mismanagement of the company during the relevant period. The appellant also stated that the records of the company are not traceable as the documents were in the custody of some of the previous directors, who are either dead or incommunicado. The learned counsel for the appellant also pointed out that the Ministry of Corporate Affairs, in the context of Companies Fresh Start Scheme, 2020 has clarified that even the struck off companies can take the benefit of this scheme once the NCLT orders for revival. 6. The counsel for the appellant placed reliance on the judgements in the case of Rohini Sawhney v. Registrar of Companies MANU/NC ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... due to negligence and lack of due diligence on the part of the directors of the company for not discharging their statutory duties in filing the statutory returns within the due date stipulated under the Companies Act and also for not responding to the several periodical notices within the notice periods. Therefore, the action of strike off of the name of company is fully substantiated within the authority under the provisions of section 248 of the Act and deserves the protection of this Tribunal. 10. As per the direction of this Tribunal on 24-7-2020, the appellant filed audited financial statements from 2018 to 2020 along with his rejoinder on 28-7-2020. 11. I have heard the arguments advanced by the learned counsel for the appellan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... it is just that the name of the company be restored in the Register of Companies. 13. In view of the documents on record and the submissions made by the learned counsel for the appellant, it is held that despite of the fact that the company has no revenue from operations since 2001, the company has the ownership of property registered as Documents Nos. 3642/2002 and 3643/2002 before the sub-registrar, Anchal, Kerala as a result of the order of Hon'ble High Court of Kerala in WPC 11863 of 2004 in view of the invalidation of Sale Deed. Now, the company has acquired this property and can utilize it to carry on its business activities. The company has been able to show that they owns the property during 2017 when its name being struck o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ified. However, Registrar of Companies, Kochi is directed to allow for filing of the annual returns and financial statements by the company to restore the name of the company. iv. The Company's representative, who has filed the company appeal, is directed to personally ensure compliance of this order. v. On such delivery and after duly complying with the above directions, the Registrar of Companies, Kochi is directed to, on his office name and seal, publish the order in the official gazette. vi. This order is confined to the violations, which ultimately led to the impugned action of striking off of the company, and it will not come in the way of Registrar of Companies to take appropriate action(s) in accordance with law, for an ..... X X X X Extracts X X X X X X X X Extracts X X X X
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