9911796707
TMI Blog2021 (6) TMI 53X X X X Extracts X X X X X X X X Extracts X X X X ..... ivate Limited under Section 252 of the Companies Act, 2013 aggrieved against the order of strike off carried out by the Respondent namely, the Registrar of Companies, Chennai under Section 248 of the Companies Act, 2013. The present Application has been filed by the Applicants seeking thereof to restore the name of the Company in the Register maintained by the Respondent/RoC. 2. The Company was incorporated on 29.10.1969, bearing CIN: U74999TN1969PTC005764 having its registered office at Kences Towers, 5th Floor, 5-E, No. 1, Ramakrishna Street, Off. North Usman Road, T. Nagar, Chennai - 600 017, Tamil Nadu. The main object of the Company is to purchase, hire, acquire and manage aeroplanes, helicopters and aircrafts for the purpose of trans ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... were denied entry to the hangar premises by the Airport Authority of India. It was also submitted that an Eviction proceedings in E.O. Case No. 02 of 2016 is pending before the Court of Eviction Officer, AAI and that the Company has been taking all measures to settle the dues and the pending litigation with AAI. 5. It was submitted by the Learned Counsel for the Applicant that three of the Directors of the Company have been non-traceable and absconding from public life and there are several personal criminal liabilities against the said persons and they have refused to reply to a notice for attending the Board Meetings of the Company till date and due to the same, the Balance Sheets and the Annual Returns for the period from 2011 onwards w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... es: i. Copy of the documents detailing the eviction proceedings by the AAI and the non - traceability of the Directors of the Company. ii. Copy of the List of assets owned by the Company. iii. Copy of the Financial Statement for the year ending 31.03.2012 to 31.03.2020. iv. Copy of the future business proposals issued to the Company. 9. Upon perusing the aforesaid documents, it is seen that the Company has not placed on record any document to show that they have been active and carrying on its business operations immediately two years preceding the date of strike off. However, a perusal of other communications which is placed at pages 199 to 203 of the typed set filed along with the Applicant discloses the fact that the Company is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 3)/ND/2018 dated 02.11.2018 had held that while considering an Application under Section 252 of the Companies Act, 2013, this Tribunal cannot focus only on the past activities, however, is also required to look into the future prospects of the Company and an upward movement in the business cycle of that industry which would result in the generation of revenue. It is also seen from the records produced before this Tribunal that the Company is embroiled in proceedings with AAI and to effectively sustain its plea, the existence of the Company becomes crucial which also fortifies the 'just' ground being a factor to be considered by this Tribunal in the process of deciding an Application/Appeal under Section 252(3) of the Companies Act, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... priating for all the above shall be meticulously returned by Respondent to the Appellant. (iii) Till all compliances are made by the Company, the Company shall not alienate or dispose of any of its valuable assets. (iv) It is further observed that by virtue of this order of restoration of the name of Company in the register it will not entitle the Directors of the Company whose names in case have been disqualified by virtue of provisions of Section 164 of the Companies Act, 2013 by the Respondent/RoC automatically to be restored to directorship except in accordance with law. (v) An affidavit of compliance of the aforesaid directions shall be filed by the Appellant within a period of 2 months from the date of this order. (vi) The sha ..... X X X X Extracts X X X X X X X X Extracts X X X X
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