TMI Blog2021 (5) TMI 777X X X X Extracts X X X X X X X X Extracts X X X X ..... nt Company - The provisions pertaining to restoration of the name of the Company are provided in the Section 252(3) of the Companies Act, 2013, which, inter alia, includes that if a company is carrying out its business or in operation or otherwise it is just that the name of the company be restored, this Tribunal can order the RoC to restore the name of the company in the Register of Companies. The Appellant Company has been able to satisfy this Bench that it is just and equitable to restore the name of the Appellant Company in the register maintained by RoC - the name is restored - appeal allowed. - Appeal No. 534/252(ND)/2020 - - - Dated:- 7-4-2021 - Abni Ranjan Kumar Sinha, Member (J) And L.N. Gupta, Member (T) For the Appell ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed 29.10.2019. The name of the Appellant Company appears at serial No. 1863 of the list of companies, whose names were sought to be 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 31.03.2011. 5. It is submitted by the Appellant Company that it could not file its financial statements and annual returns, as there was a deadlock in the management of the company. In order to support its contention, the Applicant has averred that a petition regarding Oppression and Mismanagement under Section 397-398 and 402 of the erstwhile Companies Act ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . It is submitted that the said judgment, this Hon'ble Tribunal further held that the hindrances being caused by Mr. Sunny Gupta, in making statutory compliances amounted to mismanagement. True copies of orders passed in CP135(ND)2013 are annexed hereto as Annexure A-13 . True copy of judgment dated 29.02.2020 passed in C.P. 135(ND)/2013 is annexed hereto as Annexure A-14 . i) However, thereafter the COVID Pandemic struck, and no steps could be taken immediately as Mr. Madhu Sudan Choudhary was in Kolkata during this period. Thereafter it took some time to convene a Board Meeting in order to implement the judgment dated 29.02.2020. Accordingly, the Board Meeting was finally held on 21.10.2020, on which date the Board approved the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as pending against the Appellant Company before this Tribunal. Hence, the reasons for not filing the Financial Statements seems plausible. 12. Here, it is worthwhile referring to the Judgment of Hon'ble High Court of Delhi dated 02.12.2013 passed in the matter of M.A. Panjwani vs. Registrar of Companies Anr. Co. Pet. No. 174/2017, wherein the following was held: The petitioner has to be protected in the litigation pending before the trial court. As observed by the Indore Bench of the Madhya Bharat High Court in Bhogi Lal Chiman Lal vs. Registrar, Joint Stock Companies: AIR 1954 M.B. 70, the effect of the order of the Registrar of Companies striking off the name of the company from the register would be that the company will be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ompany is carrying out its business or in operation or otherwise it is just that the name of the company be restored, this Tribunal can order the RoC to restore the name of the company in the Register of Companies. 15. In sequel to the above, the Appellant Company has been able to satisfy this Bench that it is just and equitable to restore the name of the Appellant Company in the register maintained by RoC and therefore, we are inclined to allow the appeal. 16. In view of the above, the Appeal is allowed subject to payment of costs of ₹ 25,000 (Twenty-five Thousand) only to the Ministry of Corporate Affairs and ₹ 25,000 (Twenty-five Thousand) to the Prime Minister's Relief Fund, the proof of which will be furnished by ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
