TMI Blog2020 (1) TMI 1394X X X X Extracts X X X X X X X X Extracts X X X X ..... years 2016-17, 2017-18 and 2018-19 is stated to be ₹ 1,47,841/-, NIL and NIL, respectively. The date of filing of the Income Tax Returns for all the assessment year is before the date of striking of the name of the company from the Register of Companies i.e. 11.09.2018 - the petitioner-company has been able to show that it was carrying on business or in operation at the time of its name being struck off from the register of companies. In the submissions made on behalf of the ROC and Income Tax Department, no objection to the restoration of the name of the Company, has been raised. It is therefore, held that the ingredients provided for in Section 252(3) of the Act, are satisfied. The petition is allowed and the name of the compa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... holetime Director of the petitioner-company. The same is at Page 20-22 of the paper book. Annexure-10 at Page 115 of the paper book is the list of shareholders of the petitioner-company. 3. The certificate of incorporation of the Company is at Annexure 1 of the petition. The authorized capital of the petitioner-company is stated to be ₹ 1,50,00,000/- divided into 15,00,000 number of equity shares of ₹ 10/- each and the issued, subscribed paid up capital of the petitioner-company is stated to be ₹ 1,40,06,400/- divided into 1400640 number of equity shares of ₹ 10/- each. The Memorandum and Articles of Association are part of the record and the same is at Annexure 2 of the paper book. The main objects of the Compa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ort, vide Diary No.6143 dated 05.11.2019. It is stated that the Company had not filed the statutory annual documents with the ROC for the last 2 years i.e. 2015-16 to 2016-17 due to which the ROC had reasonable cause to believe that the Company was inactive and in terms of provisions of Section 248(5) of the Act, read with Rule 7 9 of the Companies (Removal of Names of Companies from the Register of Companies) Rules, 2016, the name of the Company was struck off from the Register of Companies and Gazette Notification in terms of Section 248 of the Companies Act, 2013 was published notifying the names of companies which were struck off. A copy of Gazette of India notification no.37 is at Annexure II and the name of the company is appearing ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 in operation or otherwise it is just that the name of the company be restored to the register of companies, order the name of the company to be restored to the register of companies, and the Tribunal may, by the order, give such other directions and make such provisions as deemed just ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2018-19. The gross total income for the assessment years 2016-17, 2017-18 and 2018-19 is stated to be ₹ 1,47,841/-, NIL and NIL, respectively. The date of filing of the Income Tax Returns for all the assessment year is before the date of striking of the name of the company from the Register of Companies i.e. 11.09.2018. 16. In view of the above discussion, the petitioner-company has been able to show that it was carrying on business or in operation at the time of its name being struck off from the register of companies. In the submissions made on behalf of the ROC and Income Tax Department, no objection to the restoration of the name of the Company, has been raised. 17. It is therefore, held that the ingredients provided for in ..... X X X X Extracts X X X X X X X X Extracts X X X X
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