TMI Blog2021 (6) TMI 89X X X X Extracts X X X X X X X X Extracts X X X X ..... Company was struck off on 09.08.2018 and for the two years immediately preceding 09.08.2018, it is incumbent upon the Applicant to show that the Applicant Company was active and running business. A perusal of the Income Tax Acknowledgment and also the Bank Accounts of the Company manifest the fact that the Company was active and carrying on its business activities, however has failed to file the Annual Returns and Financial Statements with the Respondent since incorporation. Under the circumstances, this Tribunal feels that it is 'just' that the name of the Company is required to be restored back in the Register maintained by the Respondent - The Applicant Company has filed sufficient documents in order to demonstrate that the Compa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... any in the Register maintained by the Respondent. 2. The Applicant Company was incorporated on 20.09.2013 bearing and having its registered office at 37, 38 Periyanayaki Street, Lakshmanan Nagar, Kandanchavadi, Chennai - 600 096, falling within the jurisdiction of Registrar of Companies, Chennai. As per the Memorandum of Association, the main object of the Company is to carry on the business of software designing development, customisation, implementation maintenance, etc. The details of the main objects are set out in the Memorandum of Association, which is filed along with the typed set. 3. The Learned Authorized Representative for the Applicant submitted that the Company has been active since incorporation and carrying on its busin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rected to file all pending financial statements and annual returns till date within specified time in case the prayer is granted. (C) The shareholders of the subject company may kindly be directed to give an undertaking stating that the accounts of the company were not used as means to transact tainted money during the period of demonetization. (D) To pass such order which does not entitle the petitioner and other directors of the subject company to use this order before any legal forum to remove the disqualification incurred upon them, if any, as per Section 164 of Companies Act, 2013 (E) To pass such other orders as deemed fit and proper in the circumstances of the case. 5. We have considered the plea of the Applicant C ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... estored back in the Register maintained by the Respondent. 7. The Applicant Company has filed sufficient documents in order to demonstrate that the Company is active and carrying on the business and substantiated that it is 'just' that the name of the Applicant Company is required to be restored. Thus, this Tribunal is of the view that the name of the Applicant Company is required to be restored in the Register maintained by the Respondent RoC. However, even though it will not absolve the Company from filing the necessary returns and documents and adhere to the provisions of Companies Act, 2013 as an onus is placed on the Company to strictly comply with the provisions of Companies Act, 2013 without any let, in the instant case th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... m which there has been default with requisite charges/fees as well as additional fee/late charges. (iii) That the Restoration of the Company's name is also subject to the payment of cost of ₹ 50,000/- (Rupees Fifty Thousand Only) through online payment in www.mca.gov.in under miscellaneous fees by mentioning the particulars as payment of cost for revival of Company . (iv) Till all compliances are made by the Company, the Company shall not alienate or dispose of any of its valuable assets. (v) 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 S ..... X X X X Extracts X X X X X X X X Extracts X X X X
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