TMI Blog2021 (1) TMI 450X X X X Extracts X X X X X X X X Extracts X X X X ..... s Act, 2013, and considering the report of the RoC, this Tribunal is of the opinion that it would be just and equitable to order restoration of the name of the Company in the Register of Companies - The Registrar of Companies, the respondent herein, is ordered to restore the original status of the Appellant Company as if the name of the company has not been struck off from the Register of Companies and take all consequential actions like change of company s status from Strike off to Active (for e-filing) and to intimate the bankers about restoration of the name of the company so as to defreeze its accounts. The Registrar of Companies, Kochi is also directed to allow for filing of the Annual Returns and Financial Statements by the compan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dentification Number (CIN) of the Company is U72200KL2012PTC030863 having its Registered Office at TC 26/1842, GPO Lane, Statue, Thiruvananthapuram- 695 001, Kerala. 2. As per the Memorandum of Association, the main business of the Appellant Company is: To carry on the business of information technology, information technology enable services, Software designing, development, customization, implementation maintenance, testing and benchmarking, maintaining, hiring, leasing, marketing, advising, consulting and educating in computer software and solutions, to do electric and electronic system design, verification, validation and development, and to import, export, sell, purchase, distribute etc. 3. The appellant stated that the Co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... there was no one to take care of the business issues and embroiled in the pending legal proceedings, which was recently been compromised by the parties. The Company defaulted in all its liabilities to its creditors and failed to meet its compliance issues. The company could not hire any professionals to look into its affairs due to financial crunch. 6. It is further submitted that the balance sheets and the provisional balance sheets of the company will reflect the above-mentioned issues. The company has also failed to meet its income tax liability. The company needs to collect some money from its Debtors, and needs to pay its liabilities and for the same the company's bank account is needed urgently to function and meet its statuto ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... espectively. Similarly, as per provisions of Section 92 of the companies Act, 2013 Annual Returns for 2016, 2017 and 2018 were due for filing on or before 30.11.2016, 30.11.2017 and 30.11.2018 respectively. ROC further stated that the subject company has violated the provisions of Sections 92/137 of the Companies Act, 2013, as the case may be. 10. In the Report of RoC, it is further stated that notice under Section 248 (1) of the Companies Act, 2013 read with Rule 3 of Companies (Removal of names of Companies from Register of Companies) Rules 2016, had been issued to the company and its directors on 05.08.2019 giving 30 days notice. It is also stated that due process has been meticulously followed for strike off action of the Company. A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... arch 2019 and also the Income Tax Return Acknowledgment for the Assessment Year 2019-20, they have not produced the same. 13. The provision pertaining to the restoration of the name of the Company as provided in Section 252 (3) is reproduced below: Section 252(3) : (3) If a company, or any member or creditor or workman thereof feels aggrieved by the company having its name struck off from the register of companies, the Tribunal on an application made by the company, member, creditor or workman before the expiry of twenty years from the publication in the Official Gazette of the notice under sub-section (5) of section 248 may, if satisfied that the company was, at the time of its name being struck off, carrying on business or ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he latest Balance Sheets and Financial Statements of the Company for the year ending 31st March 2019 and also the Income Tax Return Acknowledgment for the Assessment Year 2019-20, any action for restoration of the company by the RoC shall be taken only after producing the same before him. iii. The Appellant Company is directed to file all the statutory document(s) along with prescribed fees/additional fee/fine as decided by Registrar of Companies within 30 days from the date on which its name is restored on the Register of Companies by the Registrar of Companies. iv. The shareholders/ Directors of the appellant company shall jointly submit an Undertaking to the Registrar of Companies stating therein that the accounts of the Company we ..... X X X X Extracts X X X X X X X X Extracts X X X X
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