TMI Blog2021 (7) TMI 875X X X X Extracts X X X X X X X X Extracts X X X X ..... its name being struck off, the Company was doing its business or carrying its operations. The Company had not generated any revenue from its operations during the financial years 2010-11 to 2013-14 and 2016-17 to 2017-18, and in all these years it had incurred losses. However, the Financial Statements indicate that immediately before the Company was Struck Off it had generated revenues from operations during the financial year ended on March 31, 2015 and March 31, 2016. During the said two years it has also recorded profits - appellant has filed along with the application a copy of Income Tax return Acknowledgement for the Assessment Year 2019-20, which indicate Gross Total Income of ₹ 1,74,740/- and amount of ₹ 51,354/- paid ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ted Company, limited by shares under the provisions of the Companies Act, 2013. The authorised share capital of the Company is ₹ 10,00,000/- (Rupees Ten Lakh only) divided into 1,00,000/- (One Lakh) Equity Shares of ₹ 10/- (Rupees Ten only) each. The issued, subscribed and Paid-up Equity Share capital of the Company is ₹ 9,50,000/- (Rupees Nine Lakh Fifty Thousand only) divided into 95,000 (Ninety-Five Thousand) Equity Shares of ₹ 10/- (Rupees Ten only). During the relevant time when its name was struck off, the Company was managed by two directors namely, Mr. Satyajit Pattnaik (DIN: 02827720) and Mr. Tara Prasad Pattnaik (DIN: 02913184) to carry out objectives of the Company. 3. The main objects of the Company ar ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ompany was in operation. Consequently, the Registrar of Companies initiated proceedings under Section 248 of the Companies Act, 2013, for the purpose of striking off the name of the company of the Register maintained by the Registrar of Companies under Section 248(5) of the Companies Act, 2013. The Appellant has not made any submission that what were those management issues that led to non-filing of statutory Returns for so many years i.e. since 2009-10 onwards. 5. In order to sustain the said plea, the appellant has placed before this Tribunal, the following evidence/documents:- (i) Copy of Audited Annual Accounts for the period 2009-10, 2010-11, 2011-12, 2012-13, 2013-14, 2014-15, 2015-16, 2016-17, 2017-18 and 2018-19; (ii) Co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lication of such Notice in the Official Gazette, the Company stood dissolved on and from 21.06.2017. In view of above, the Hon'ble National Company Law Tribunal Cuttack Bench may consider the appeal/petition preferred under Section 252(3) of the Companies Act, 2013 on its own merits as deemed fit and proper. 7. We perused the available records. We also heard the Learned Counsel/Company Secretary appearing on behalf the appellant. 8. Section 252(3) of the Companies Act, 2013 confers on this Tribunal powers to Order to restore the name of the Company in the Register maintained, provided such application is filed by (i) the Company or (ii) by any Member or (iii) any creditor or (iv) any workmen of the Company within 20-years f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 003376 with Corporation Bank. 11. The above details prima facie suggest that the Company is a going concern and was in operation when its name was struck off. 12. Heard learned Counsel/Company Secretary appearing for the appellant. The appellant submitted that the Company shall comply with all the statutory obligations and therefore the Registrar of Companies, Odisha may be directed to restore the Company's name in the Register. 13. Going by the submissions made by the Appellant, facts and circumstances of the case and the documents/details available on record we accept the request of the appellant and direct the Registrar of Companies, Orissa to restore name of the Company in Register by following order. ORDER (i) The ..... X X X X Extracts X X X X X X X X Extracts X X X X
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