TMI Blog2021 (1) TMI 273X X X X Extracts X X X X X X X X Extracts X X X X ..... f the financial statements of the Company for two or more years. This Bench is not inclined to interfere with the striking off action taken by the ROC against the Appellant Company under Section 248(5) of the Companies Act, 2013 - Appeal dismissed. - Appeal No. 350/252(ND)/2020 - - - Dated:- 31-12-2020 - SHRI. B. S. V. PRAKASH, ACTING PRESIDENT AND SHRI. L. N. GUPTA, HON'BLE MEMBER (TECHNICAL) For Appellant : Mr. Prateek Kedawat and Mr. Mudit Manohar, Advocates CS Suresh Tibrewal For Respondent : Mr. M. Yadhubhushana Rao, AROC ORDER This Appeal has been preferred by M/s. AVS Enterprises Private Limited (hereinafter referred to as the 'Appellant Company') invoking the provision of Section 252 of the Comp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d at serial no. 2307 of the list of companies whose names were sought to be struck off due to default in Statutory compliances. 5. It is submitted by the Appellant Company that it was in operation since its incorporation. To corroborate its submission, the Appellant Company has placed the following documents on record : a) Copy of Financial Statements for the Financial Years from 2016-17 to 2018-19. b) Copy of the lease agreement executed on 22.03.2002, between Rajasthan State Industrial Development and Investment Corporation (RIICO) Limited depicting a piece of land known as Plot No. Hp . c) Copy of the Income Tax Return for the year 2006-07. d) Copy of the Bank Statement issued by Allahabad Bank for the period from 13. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2018-19 2,49,000 However, the same seems to have been prepared after the date of Striking off. 9. That on 07.12.2020, this tribunal has observed the following . In course of hearing it has come to our notice that the Appellant has not filed the documents to establish that the Appellant had been in business during the defaulting year. Therefore, the Appellant is well- advised to bring all the documents on the records within 3 days from today 10. That the Appellant Company in response to the same has filed its balance sheets from the financial year 2006-07 to 2018-19 which were prepared after the date of striking off. Other than that no additional evidence has been placed on record, which c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... thereof feeling aggrieved by such striking off applies before the Tribunal seeking restoration of the struck off company to the Register of Companies before the expiry of twenty years from the publication in Official Gazette of notice under Section 248(5). The exercise of such power is properly regulated and depends upon satisfaction of the Tribunal that the Company at the time of its name being struck off was carrying on business-10- Company Appeal (AT) No. 20 of 2019 or in operation or otherwise it is 'just' that the name of company be restored. We do not find ourselves persuaded to agree with the proposition canvassed by learned counsel for the Appellant that inspite of Appellant's inability to demonstrate that the Company wa ..... X X X X Extracts X X X X X X X X Extracts X X X X
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