TMI Blog2021 (1) TMI 513X X X X Extracts X X X X X X X X Extracts X X X X ..... any Application within such period for obtaining the status of a dormant Company U/s. 455. However, Section 248(6) states that the Registrar of Companies, before finally striking off Company, has to satisfy himself that sufficient provision has been made for the realization of all amounts due to the Company and for the payment or discharge of its liabilities and obligations by the Company within a reasonable time, and, if necessary, obtain necessary undertakings from the Managing Director, Director or other persons in charge of the management of the Company. Though, the impugned order striking off the Company was in accordance with law, the Tribunal has to take into consideration the bona fide contentions of Petitioner seeking to restore t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... R Ashutosh Chandra, Member (T) 1. C.P. No. 55/BB/2020 is filed by Mr. Veerareddy Sanivarupu, ('Applicant/Petitioner') Member of M/s. VR Eco Systems Private Limited U/s. 252 (3) of the Companies Act, 2013, R/w Rule 87A of the NCLT (Amendment) Rules, 2017, by inter alia seeking to restore the name of the Petitioner Company namely M/s. VR Eco Systems Pvt. Ltd., on the Register maintained by the Registrar of Companies, Karnataka; to pass direction to ROC to remove disqualification of the Directors of the Company etc. 2. Brief facts of the case, as mentioned in the Company Petition, which are relevant to the issue in question, are as follows: (1) M/s. VR Eco Systems Pvt. Ltd., (referred to as the Company) was incorporated un ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... non-representation to the notice, the ROC has struck off the name of the Company from the Register maintained by the ROC. (4) It is stated that the Company is doing its business since incorporation, the Company is very vigilant in its all compliances. However, due to communication gap between the Management and the Professionals taking care of the Company compliances, regular filings were not done in time. After receiving the Notice sent by the ROC, the Management intimated the notice information to the professional however, due to urgency over filing annual forms, the professional forgot to prepare the response to the notice within 30 days of receipt, and no filings were done from the year 2016 to 2018 at the time of receipt of notice. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nquiry, investigation and Complaints against this Company and expressed no objection to restore the name of Company, as prayed for, however, subject to payment of cost and complying with pending statutory returns. 4. Heard Mr. Narasimha Pai P., learned PCS for the Applicant/Petitioner through Video Conference. We have carefully perused the pleadings of the Parties and extant provisions of the Companies Act, 2013, and the Rules made thereunder. 5. Reiterating the facts as submitted with the Petition, Mr. Narasimha Pai P., learned PCS for the Applicant/Petitioner submitted that the Company is active and non-filing of Annual Returns/Financial Statements in question was neither intentional nor deliberate but it was due to negligence of th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is also not in dispute that the instant Company Petition is filed in accordance with law; there are no investigations pending against the Company; the Respondent has not opposed the Petition; and left the issue to the Tribunal to consider the case subject terms and conditions. The Company is a going concern and striking of its name would affect the business as well as various stakeholders and employees. No prejudice would be caused to any party if the Company's name is restored, as prayed. The Member of the Company has undertaken that post restoration of the Company in the books of Registrar of Companies, Bangalore, the Company will complete the Annual filings due for the past years and carry on the business in its ordinary course. The ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hree weeks from the date of receipt of this order, failing which the order will lapse. e. The Petitioner is permitted to deliver a certified copy of this order to the Registrar of Companies; f. On such delivery and after duly complying with above directions, the Registrar of Companies, Bengaluru is directed to, on his office name and seal, publish the order in the official Gazette; g. This order is confined to the violations, which ultimately led to the impugned action of striking off the Company, and it will not come in the way of Registrar of Companies to take appropriate action(s) in accordance with law, for any other violations/offences, if any, committed by the Company prior or during the striking off the Company. h. The Co ..... X X X X Extracts X X X X X X X X Extracts X X X X
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