TMI Blog2019 (10) TMI 1382X X X X Extracts X X X X X X X X Extracts X X X X ..... perations of the Company. So, the bank statements also do not help in strengthening the contention on the side of the appellant that the Company is a going concern. No Income Tax Return Acknowledgments are seen produced on side of the appellant. The above said discussions lead to a conclusion that on the date of the striking off the name of the Company, it was not doing any kind of business for which the Company was incorporated. The Company not doing any business as on the date of striking off therefore, possibility of attempts of siphoning of funds to evade tax by the Company or other stakeholders in the Company cannot be ruled out from the peculiar nature and circumstances brought out in the case in hand. Section 252(3) of the Companies Act, 2013 confers upon the Tribunal ample power to order restoration of a Company whose name has been struck off from the Register of Companies, if the Company, at the time of its name being struck off was carrying on its business or was in operation or it is otherwise just that the name of the Company be restored on the register - in the present case, there is no just reason to restore the Company's name on the Register of Companies. S ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... es Act, 2013. That the Company is engaged in real estate business and the same is evident from the balance sheets and profit and loss accounts of the Company. Copies of the Balance Sheets and Profit Loss accounts for the financial years 2012-13 to 2017-18 of the Company are annexed and marked as Annexure A-6 . d) The Appellant states that the Company is a running Company/ going concern and accounts of the Company have been audited every year. All necessary documents are ready with the Company for submission/filing before the Respondent/ Registrar of Companies, West Bengal. The Company has an active Bank Account where transactions are taking place on regular basis, copy of which is annexed as Annexure A-7 . The Appellant further states that the Company is functional and regular in its operation and that the Company will suffer irreparable loss if its name is not allowed to be restored and hence, prays for an order for restoring the name of the Company in the Register of Companies maintained by Registrar of Companies, West Bengal. 3. Notices were sent to RD, Eastern Region, ROC, West Bengal and the concerned Income Tax Department. However, apart from ROC, West Bengal, none ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... records. 6. This is an appeal for restoration of the name of the company in the Register of Companies, West Bengal filed by one of its shareholders, Mr. Manoj Majumder, under Section 252(3) of the Companies Act, 2013. The Appellant Company, incorporated on 26.12.2012, admittedly committed default in submitting the annual returns and financial statements since its incorporation, and thereby, the Registrar of Companies, West Bengal had struck off the name of the company and hence, the present appeal has been filed. The Respondent, ROC, West Bengal, also submitted that the Appellant did not apply for obtaining status of dormant company u/s. 455 of the Companies Act, 2013. Accordingly, for want of production of proof that the company was in operation, the Respondent presumed that the company was not doing any business and hence struck off the name of the company. So, we find no irregularity or illegality in the order passed by the Registrar of Companies, West Bengal. 7. This is an appeal filed under Section 252(3) of the Companies Act, 2013. One among the grounds to be satisfied by the Appellant is that it was doing business or was in operation on the date of striking off the n ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... operations of the Company. So, the bank statements also do not help in strengthening the contention on the side of the appellant that the Company is a going concern. No Income Tax Return Acknowledgments are seen produced on side of the appellant. The above said discussions lead to a conclusion that on the date of the striking off the name of the Company, it was not doing any kind of business for which the Company was incorporated. 9. The directors' reports and independent auditor's reports have also been produced to strengthen the contentions on side of the appellant. Notes to the Financial Statements for the entire period from 2012-13 to 2017-18 reveal that Current Liabilities include Short-term borrowings to one Majumder Enterprise and certain Advance to Customers is also seen during some of the financial years. That being so and the Company not doing any business as on the date of striking off therefore, possibility of attempts of siphoning of funds to evade tax by the Company or other stakeholders in the Company cannot be ruled out from the peculiar nature and circumstances brought out in the case in hand. 10. The Hon'ble National Company Law Tribunal, N ..... X X X X Extracts X X X X X X X X Extracts X X X X
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