TMI Blog2021 (8) TMI 101X X X X Extracts X X X X X X X X Extracts X X X X ..... d by the company for the FY 2016-17 also depicts 'nil' revenue from its operations. Further, the Income Tax Department has stated that though it has no objection towards the revival of the company, it has no record of its Income or Income Tax Returns in its data base - From perusal of the record of Litigation also, it is observed that there are other parties too on the side of Appellant Company through which the Litigation may continue and be pursued. That the pending litigation against the Appellant Company cannot be the sole ground to seek its revival since the Litigation can still be carried on by the other contesting parties. This Bench is not inclined to interfere with the striking off action taken by the RoC against the App ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lege hostels, playground, cinema houses, cold storage, hotel restaurant and to deal in all kins of immovable properties whether belonging to the Company or not . 4. It is submitted by the Appellant that the RoC Delhi and Haryana had 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 in its incorporation. Consequently, the RoC initiated proceedings under Section 248 of the Companies Act 2013 and struck off the name of the Appellant Company from its Register vide STK-7 Notice No. ROC/DELHI/248(5)/STK-7/5071 dated 01.09.2017. The name of the Appellant Company appeared at serial no. 22002 of the list of companies, who ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dded that the Appellant Company has also filed a Civil Execution Petition bearing no. 607 of 2019 titled as Swastik Finbuild India Pvt. Ltd. Vs Bhawani Parshad Ors. before the court of Civil Judge, Junior Division, Gurugram District Court for Execution of judgement and Decree dated 04.01.2014, which is also pending before the Civil Court. 8. That in order to defend/allege its claim before the Courts the Appellant Company has sought restoration of its name in the Register of ROC. Further, the Appellant Company has averred that it is in position to file its Balance Sheets for the Financial Years from 1996 to 2016-17. 9. That the RoC has filed its report on 15.03.2021 and submitted that the Appellant Company has not been able to substa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l is listed before Hon'ble High Court of Punjab and Haryana on 29.09.2021 and Execution Proceedings are listed on 19.07.2021 in the Civil Court. 13. After hearing submissions and perusing documents placed on record by both the parties, this Bench, is of the view that the only ground on which the Appellant Company is seeking its revival is the Litigations that are pending by or against it. 14. From perusal of the documents placed on record, it is observed that the Company was incorporated in the year 1996 and since then, it has never filed its Financial Statements and Annual Returns. The Report of RoC also confirms that the only balance sheet filed by the company for the FY 2016-17 also depicts 'nil' revenue from its operat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Alliance Commodities Private Limited Vs. Office of Registrar of Companies, West Bengal, Company Appeal (AT) No. 20 of 2019: 9. Section 252 (3) of the Companies Act, 2013 empowers the Tribunal to order restoration of a Company whose name has been struck off from the Register of Companies, if such company, any member or creditor or workman thereof feeling aggrieved by such striking off applies before the Tribunal seeking restoration of the struck off company to the Register of Companies before the expiry of twenty years from the publication in Official Gazette of notice under Section 248(5). The exercise of such power is properly regulated and depends upon satisfaction of the Tribunal that the Company at the time of its name being struck ..... X X X X Extracts X X X X X X X X Extracts X X X X
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