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TMI Blog2019 (8) TMI 1625X X X X Extracts X X X X X X X X Extracts X X X X ..... t page 50 of the Petition. The CIN of the Company is U45400JK2007PTC002813. The Company was incorporated on 27.08.2007. The registered address of the company is C-61, C/D Gandhi Nagar, Jammu, Jammu & Kashmir. Therefore, the matter falls within the territorial jurisdiction of this Tribunal. 2. The petition is accompanied by affidavit verified by Mr. Tapan Dubey, Member of the petitioner Company seeking restoration of name in the Register of Companies. Mr. Tapan Dubey holds 90,900 shares in the company, as per the list of Shareholders as on 31.03.2017, appended with the petition is as follows : - Sr. No. Shareholder's Particulars Number of Shares as on date of filing 1. Pawan Dubey 1,60,920 2. Tapan Dubey 90,900 3. Poonam Dube ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rty, building, or lands or interest subject to rules & regulations of respective authorities in this regard" 4. It is stated that the Registrar of Companies, Jammu and Kashmir, ('ROC') struck off the name of the Company from the Register of Companies due to default in statutory compliance, namely, failure to file financial statements and annual returns for the Financial Years 2014-15 to 2017-18 i.e. 4 years. The name of the Company is stated to be struck off from the Register of Companies thereof, under the provisions of Section 248 (5) of the Act, as per notice in STK-5 dated 26.04.2017 and in STK-7 dated 30.06.2017. The name of the Company is stated to be at Serial No. 210 in the Form STK-7. 5. It is submitted that the Company i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ation of the name of the Company in the Register of Companies, the Company shall file all outstanding statutory documents. 10. The ROC has filed the report vide Diary No.1808 dated 10.12.2018. It is stated that the Company had not filed its financial statements since the financial year 2014-15 due to which the ROC had reasonable cause to believe that the Company was inactive and in terms of provisions of Section 248(5) of the Act, read with Rule 9 of the Companies (Removal of Names of Companies from the Register of Companies) Rules, 2016, the name of the Company was struck off from the Register of Companies, vide notice STK-7 dated 30.06.2017. It has been prayed that the Company may be directed to prove that it was carrying on business or ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ny had not been struck off from the register of companies" 14. The present petition is filed by the Company and is within the period of 20 years from publication in the Official Gazette of notice under Section 248 (5) of the Act. Therefore, the only issue requiring consideration is whether the Company was, at the time of its name being struck off, carrying on business or in operation. 15. The audited financial statements for financial year 2014-15 to 2016-17 have been found attached with the petition. The year wise details of revenue from operations for the last 6 years are as follows: - F. Year Revenue Earned in ' 2014-15 NIL 2015-16 NIL 2016-17 NIL 16. As per Annexure P-11 (Colly) of the petition, Income Tax Returns are sta ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... al land measuring 7 Kanals 7 Marlas and 66 Square feet situated in the State of Jammu. Hence, the company has been able to show that it was carrying on business 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 ?40,000/- (Rupees Forty Thousand) as costs with the Pay and Accounts Officer, Ministry of Corporat ..... X X X X Extracts X X X X X X X X Extracts X X X X
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