TMI Blog2021 (5) TMI 755X X X X Extracts X X X X X X X X Extracts X X X X ..... ts original name on the register of the Registrar of Companies. The appellant has submitted sufficient evidence that it has been in operation during the period preceding strike off, therefore, it could not be termed as a defunct company as per Section 252 of the Act. Thus, taking into consideration the provisions of Section 252(1) of the Companies Act, 2013, which vests this Tribunal with a discretion where the Company, whose name has been struck off, and such Company is able to demonstrate that it is just to do so, can restore the name of the Company, in the Register and in the interest of all stakeholders, including the Appellant itself, who seeks restoration of the name of the Company in the register maintained by Registrar of Compani ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ares of ₹ 10/- each, as per the Master Data Annexed. 4. The main objects of the company are: (a) To carry on business as manufacturer, Refiners, distillers, processors, producers, makers, importers, exporters, buyers, sellers, suppliers, stockiest, agents, merchants, distributors, and concessionaries of and dealers in all kind of the chemicals such as Electrochemical, Biochemical, Agrochemicals, Petrochemicals, Inorganic chemicals, organic chemicals, Rubber chemicals, Food chemicals and lubricants, Insecticides and Herbicides, Minerals, plastic chemicals and lubricants and synthetic designs, synthetic rubber, elastomers, carbon black, natural rubber, latex, plastics and formulations thereof, reclaimed rubber, natural rubber. P ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ppellant had not filed its Financial Statements and Annual Returns for the Financial Years 2016 onwards thereby giving rise to the surmise that the business of the company was not in operation. Consequently, the name of the company was struck off in terms of provisions of Section 248 of the Companies Act, 2013 read with Rule 7 and Rule 9 of the Companies (Removal of Names of Companies from the Register of Companies) Rules, 2016. 7. The Appellant has brought forward the following documents about it being in operation and functional during the period of striking off: i. The Copies of Audited Financial Statements of the company for the period from F.Y. 2016 onwards. The Balance Sheet as on 31.03.2019 reflects Current Assets of in form ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nies Act, 2013. 9. The Income Tax Department has not filed any reply. 10. The grounds contemplated under Section 252 of Companies Act, 2013, are that the company was carrying on business or was in operation at the time of striking off its name or where it appears just to the Adjudicating Authority that the name of the company is to be restored to the Register of Companies and the Section 252(1) further contemplates that one of the above three conditions are required to be satisfied before exercising jurisdiction to restore the company to its original name on the register of the Registrar of Companies. 11. The appellant has submitted sufficient evidence that it has been in operation during the period preceding strike off, therefor ..... X X X X Extracts X X X X X X X X Extracts X X X X
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