TMI Blog2021 (1) TMI 866X X X X Extracts X X X X X X X X Extracts X X X X ..... /-, Cash and Cash equivalent is ₹ 26,343/-, Sundry Debtors is ₹ 3,42,158/-, Other Current Assets is ₹ 2,58,349/- and LongTerm borrowings is ₹ 55,77,416/-, and Profit of ₹ 32,160/- for year ended 31.03.2018. As observed above, the books of the Petitioner Company reflect that Members intend to continue its business operations of the company. Therefore, in the interest of justice the name of the company deserves to be restored in the Register of Companies maintained by the Respondent Registrar of Companies. The Respondent is directed to restore the name of the Petitioner company in the Register of Companies subject to payment of a sum of ₹ 50,000/- as cost payable in the account of PM-CARES fund within ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... panies Act, 2013, neither the Petitioner Company nor its Directors received any notice at their respective addresses from the Respondent stating its intention to strike off the Company nor were they given any opportunity of being heard before the action of striking off the name of the Company was undertaken by the Respondent. As a result, the Petitioner Company was unaware of any such notice and so could not file a reply emphasizing the reason for not striking off its name from the register of companies maintained by the Respondent. 6. The Petitioner states that the Company was carrying out its operations adequately till 2012, however, after the said period the petitioners were suffering from various personal and financial difficulties ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 17-18 and 2018-19 financial statements are prepared in time and duly approved in the respective Annual General Meetings by the Shareholders but the same could not be filed inadvertently and the delay in filing in unintentional. The Petitioner Company has not made any application within such period for obtaining the status of dormant company under Section 248(2) of the Companies Act, 2013. The Petitioner Company submits that after Demonetization implemented by the Central Government across whole of India, no huge amount in case is deposited in Company s Bank Account. 12. The Respondent, Registrar of Companies submitted his Affidavit in reply on 14.10.2020 explaining the following sequence of events leading to the striking of the name of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... equivalent is ₹ 15,452/-, Sundry Debtors is ₹ 2,45,654/-, Other Current Assets is ₹ 1,75,258/- and Long-Term borrowings is ₹ 54,40,124/-, and Profit of ₹ 14,206/- for year ended 31.03.2019 and Revenue from operations is ₹ 1,70,440/-, Fixed assets of ₹ 52,07,691/-, Cash and Cash equivalent is ₹ 26,343/-, Sundry Debtors is ₹ 3,42,158/-, Other Current Assets is ₹ 2,58,349/- and LongTerm borrowings is ₹ 55,77,416/-, and Profit of ₹ 32,160/- for year ended 31.03.2018. As observed above, the books of the Petitioner Company reflect that Members intend to continue its business operations of the company. Therefore, in the interest of justice the name of the company deserves to ..... X X X X Extracts X X X X X X X X Extracts X X X X
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