TMI Blog2021 (6) TMI 53X X X X Extracts X X X X X X X X Extracts X X X X ..... Varadharajan, Member (J) And Anil Kumar B., Member (T) For the Appellant : Raghav Rajeev Menon, Advocate For the Respondents : K. Nikhil, AROC ORDER R. Varadharajan, Member (J) 1. Under consideration is an Application filed by one Mr. Suresh Hejmady Rao and Mrs. Sunita Suresh Rao, in the capacity as a Member and Director of the Company namely, M/s. Pushpaka Aviation Private 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 b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ngar lease was extended from time to time till the year of 2009 and the Company had paid advance license fee amounting to ₹ 41,46,310/- in the year 2010 for further renewal of the lease. However, the Airport Authority of India (AAI) has not extended the lease and they issued several bills making purported claims to the tune of ₹ 16 Crore from the Company and also the officials of the Company 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... me in the register as maintained by RoC by relying up on the ground that the Applicant Company as of date is carrying on the business for which it was incorporated and it is in operation and in the circumstances, it is just that the name of the Company should be restored on the Register of Companies as maintained by the Respondent. In order to sustain the said plea, the Applicant has placed the following evidences: 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 iss ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... st would mean that it is fair and prudent from a commercial point of view to restore the company and that the Court has to examine the concept of 'justness not exclusively from the perspective of a creditor or a member or a debtor, but from the perspective of the society as a whole. 10. Further, one of us while sitting in Jaipur Bench of NCLT in the matter of M/s. Meritlines Learner Private Limited in Appeal No. 579/252(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 wh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... clause (i) above as well as to defray the cost and expenses of Register of Companies incurred in striking off, within a period of one month from the date of this order. In case of any amount payable in excess of the sum specified towards defraying the cost incurred by the Respondent/ROC and towards other amounts as are required to be paid by the Company statutorily, the same shall be remitted by the Company. Any excess amount left after appropriating 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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