TMI Blog2021 (9) TMI 791X X X X Extracts X X X X X X X X Extracts X X X X ..... striking off of the name of such Company provided further that it is seen from the material on record that at the time of its name being struck off, the Company was doing its business or carrying its operation. In this case, the applicant produced on record the copy of Audited Annual Accounts of the Company for the period from 31.03.2014 up to 31.03.2020. As per the reports of the Profit and Loss accounts of the Company, it is evident that during the defaulting years the Company has not generated any revenue from its operations or from the business activities for which it was incorporated - It is seen from the available records that the Company is maintaining bank account with State Bank of India with Account No. 31938038734. On peru ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d this application under Section 252(3) of the Companies Act, 2013 with a prayer to direct ROC, Odisha to revoke the impugned Order. 2. As per the averments, the Company is a Private Limited Company, limited by shares under the provisions of the Companies Act, 1956. The authorised share capital of the Company is ₹ 25,00,000/- (Rupees Twenty-Five Lakh Only) divided into 25,000 (twenty-five thousand) Equity Shares of ₹ 100/- (Rupees one hundred only) each. The issued, subscribed and paid-up Equity Share capital of the Company is ₹ 10,00,000/- (Rupees ten lakh only) divided into 10,000 (ten thousand) Equity Shares of ₹ 100/- (Rupees one hundred only) each. Before its name was struck off, the Company was managed by it ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Registrar of Companies, Odisha i.e., respondent herein, struck off the petitioner Company's name of the Register due to defaults in statutory compliances, namely, failure to file Financial Statements and Annual Returns for the financial year 2013-14 onwards. 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 them. 5. The Applicant states that the Financial Statements were prepared on time and were approved by the shareholders and powers were delegated to the Directors of the Company for further filing. However, due to inadvertence on the part of the Directors, the said statutory reports could ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the time mentioned in the above notice the Registrar Struck Off the name of aforesaid Company from his Register and published the same in Form No. STK-7 in the Official Gazette dated 22.07.2017 and on the publication of such Notice in the Official Gazette, the Company stood dissolved on and from 21.06.2017. The undertaking made by the petitioner in its appeal/petition may be considered on its merit on the basis of documentary evidences produced by the petitioner in support of the submission made therein. Further, the petitioner may be put to strict proof of the contention made therein that at the time of its Striking Off, the Company was in operation. The Hon'ble NCLT, Cuttack Bench may consider the application/petition pref ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hased some land admeasuring around 4.290 acres (Khata No. 293 and Chak Plot Bearing No. - 1377 of Mouza: Jhartarang) for a consideration of ₹ 1,07,25,000/- (Rs. one crore seven lakh and twenty-five thousand only). 13. ROC, Odisha has not objected to this application for restoration of the name of the company. On perusal of the application, and after hearing to the Ld. Authorised representative, we are of the view that this petition deserves sympathetic consideration, since the company has valuable land. In the facts and circumstances of the case we are satisfied that the name of the company should be restored to the register. Accordingly, we are inclined to ALLOW this Application. We hereby direct the Registrar of Companies, Odisha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... name and seal, publish the Order in the Official Gazette; vii) This Order is confined to the violations which ultimately led to the impugned action of striking of the Company, and it will not come in the way of ROC, Odisha to take appropriate action(s) in accordance with law, other violations/offences, if any, committed by the applicant company prior to or during the striking off the Company. viii) CP No. 250/CB/2020 is disposed of accordingly. ix) The Registry is directed to send e-mail copies of the order forthwith to all the parties inclusive of the Counsel x) Urgent certified copy of this Order, if applied for, be issued upon compliance with all requisite formalities. Signed this, the 3rd day of August, 2021 - ..... X X X X Extracts X X X X X X X X Extracts X X X X
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