TMI Blog2021 (5) TMI 710X X X X Extracts X X X X X X X X Extracts X X X X ..... March, 2019 of the Company. The Company is having Total Assets of ₹ 2,21,45,865/- and Total Liabilities of ₹ 1,82,76,560/-. After going through the provisions of Section 252(3) of the Companies Act, 2013, this Tribunal is of the view that the Company was in existence and it is a going concern and name of the Company to be restored in the Register of Companies as maintained by RoC - Application allowed. - CA No. 01/252/HDB/2021 - - - Dated:- 17-3-2021 - Bhaskara Pantula Mohan, Member (J) And Veera Brahma Rao Arekapudi, Member (T) For the Appellant : G. Sumathi For the Respondents : K. Harish Reddy, CGSC ORDER Bhaskara Pantula Mohan, Member (J) 1. This is a Company Application No. 01/252/HDB/2021 filed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Financial Statements within the time prescribed under Section 92 and under Section 137 read with Section 403 of the Companies Act, 2013. iii. The Applicant stated that the Company is carrying on its business and the Total Assets and liabilities as on 31.03.2019 are as follows: i. Total Assets - ₹ 2,21,45,865/- ii. Total Liabilities - ₹ 1,82,76,560/- iv. The Applicant stated that the Company undertakes to rectify the error and is ready to comply with the compliances that are required under the Companies Act, 2013 within the prescribed time. v. The Applicant filed Affidavit stating that the Company has not deposited or received any cash during the period of demonetisation in violation of the laws. vi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dated 17.08.2018 was issued and the same was published in the Government of India Gazette and publication in newspaper was made informing all the stakeholders about the list of companies struck off published in the website. Finally, the company was struck off and STK-7 notice dated 06.03.2019 was also published in the Gazette. ii. The Respondent stated that the Applicant has not filed any Balance Sheet or Annual Returns with the Respondent since 31.03.2011. However, copies of the Audited Balance Sheet as at 31.03.2012 to 31.03.2019 are enclosed along with the petition. iii. The Respondent stated that the paid-up capital is mismatch between Company's master data and Balance Sheets as at 31.03.2012 to 31.03.2019. So, the Applic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... st 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 for placing the company and all other persons in the same position as nearly as may be as if the name of the company had not been struck off from the register of companies. 7. We have heard the Counsel for Applicant, who contended that, the Company is doing its business as a going concern basis. The Counsel for Applicant further stated that the Company would file necessary-Financial Statements and Annual Returns soon after restoration of the name of the Company with the Registrar of Compa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the mismatch of paid-up capital between Company's Master Data and Balance Sheets as at 31.03.2012 to 31.03.2019. The ROC is also directed to satisfy thoroughly on the clarifications submitted by the company in this regard before restoring the name of the company. 3) The Company is directed to submit the information to ROC as regarded to what purpose will be served by restoration of the company since the P L Account of the company as at 31.03.2018 to 31.03.2019 shows 'Revenue from Operations' is zero and also submit the supporting documents/justification having done the business. 4) The company is hereby directed to file the Bank Statement for the period from 2013 to 2017 to ROC. 5) The Company is hereby directed t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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