TMI Blog2021 (1) TMI 985X X X X Extracts X X X X X X X X Extracts X X X X ..... y was neither in operation nor doing any significant business at the time when its name was struck off from the register of RoC. It is worthwhile to refer to the Judgement of Hon'ble NCLAT in the matter of Alliance Commodities Private Limited Vs. Office of Registrar of Companies, West Bengal [2019 (7) TMI 1467 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL NEW DELHI] where it was held that A Shell Company or a Company having assets but advancing loans to sister concerns or corporate persons for siphoning of the funds, evading tax or indulging in unlawful business or not abiding by the statutory compliances cannot be allowed to invoke this expression or otherwise which would be a travesty of justice besides defeating the very object ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g chemicals and cement water proofing compounds . 4. It is submitted by the Appellant Company that the RoC Delhi and Haryana initiated proceedings under Section 248 of the Companies Act 2013 and struck off the name of the Appellant Company from its Register vide Notice No. ROC-DEL/248(5)/STK-7/2879 dated 30.06.2017. The name of the Appellant Company appeared at serial no. 19907 of the list of companies, whose names were struck off due to default in Statutory compliances. It is further added that the RoC struck off the Appellant Company's name from the register due to defaults in statutory compliances, namely failure to file Financial Statements Annual Returns since 31.03.2015. 5. The Appellant Company has submitted that it ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion 455 of the Companies Act 2013. 8. That the 'NIL' revenue from operations in Balance Sheets, 'NIL' income shown in the Income Tax Returns and insignificant entries in bank statements - all reflect that the Appellant Company was neither in operation nor doing any significant business at the time when its name was struck off from the register of RoC. 9. In the current circumstances, it is worthwhile to refer to the Judgement of Hon'ble NCLAT in the matter of Alliance Commodities Private Limited Vs. Office of Registrar of Companies, West Bengal, Company Appeal (AT) No. 20 of 2019: 9. Section 252 (3) of the Companies Act, 2013 empowers the Tribunal to order restoration of a Company whose name has been ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Company has not been in operation or has not been carrying on business in consonance with the objects of the Company. A Shell Company or a Company having assets but advancing loans to sister concerns or corporate persons for siphoning of the funds, evading tax or indulging in unlawful business or not abiding by the statutory compliances cannot be allowed to invoke this expression or otherwise which would be a travesty of justice besides defeating the very object of the Company . 10. In view of the above, 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. 11. The Appeal is accordingly Dismissed. 12. Let ..... X X X X Extracts X X X X X X X X Extracts X X X X
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