TMI Blog2022 (2) TMI 835X X X X Extracts X X X X X X X X Extracts X X X X ..... ROC have raised no specific objection against the restoration of the Company subject to filing of statutory returns with fees as prescribed. Moreover, nobody would be prejudiced by the restoration of the name of the Company. The restoration of the running company despite its default is clearly in the interest of the company, although, there is a delay in filing the annual returns as well as financial statement before the RoC, however, the same can be compensated by way of requisite late filing fees - non- filings of the annual return as well as balance sheet before the RoC were only inadvertent in nature and not willful - the impugned order passed by the RoC, whereby the name of the present appellant was struck-off from the Registrar of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... annual return and financial statement for the financial year 2015-16, 2016-17 and 2017-18 with the Office of the concerned Registrar of Companies was inadvertently and without malafide motive and that was purely due to the lack of professional guidance of the management as well as due to general slump in the market. Further, it is submitted that company has duly submitted its financial statement from the HDFC Bank for the financial year from 2015-18. Further, it is submitted that the Company has been filing necessary Income Tax Return before the Income Tax Department since 2014-15, 2015-16 and 2016-17. Accordingly, it is prayed that the impugned order dated 08.08.2018 passed by RoC suffers from illegality and infirmity and the same was due ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the name of the company has been provided in Section 252 of the Companies Act, 2013, which envisages that:- 252. (1) Any person aggrieved by an order of the Registrar, notifying a company as dissolved under section 248, may file an appeal to the Tribunal within a period of three years from the date of the order of the Registrar and if the Tribunal is of the opinion that the removal of the name of the company from the register of companies is not justified in view of the absence of any of the grounds on which the order was passed by the Registrar, it may order restoration of the name of the company in the register of companies:.... (3) If a company, or any member or creditor or workman thereof feels aggrieved by the company having its na ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the ROC namely: a) That the company at the time of its name was struck off was carrying on business. b) or it was in operation c) or it is otherwise just that the name of the company be restored on the register. 7. When we apply the aforesaid principles to the facts of the present case, it is apparent from the income tax returns and financial statements of the Company that the Company was carrying on business at the time and was operational when its name was struck off from the register of companies. 8. It is pertinent to refer here the case of Vats Association Pvt. Ltd. Vs. ROC reported in (2010) 102 SCL 397 (Del), where at the time of striking off the company was flourishing but accounts could not be filed due to secr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 11. As a sequel to the aforesaid discussion it is seen from the documents available on record that the company was carrying on its business and was operative at the time of its name struck off from the register. The assumption of Registrar of Companies that the company was not in operation was erroneous. Besides that it is seen that the appeal has been filed within the stipulated period prescribed under Section 252 of the Act. Needless to say, that Income Tax Department and ROC have raised no specific objection against the restoration of the Company subject to filing of statutory returns with fees as prescribed. Moreover, nobody would be prejudiced by the restoration of the name of the Company. On the contrary the restoration is clearly in ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
