TMI Blog2022 (7) TMI 52X X X X Extracts X X X X X X X X Extracts X X X X ..... objects of the Company in right earnest. There have been substantial investments in the project. The Company is continuing its business. Unless the name of the Company is restored in the Register of Companies, it would suffer financially and may go out of business. The directors of the company would also face disqualification. As regards the locus standi of the Applicant to file the Application according to Section 252, it is only the company, a member, creditor or workman that has to file the Application. But this Application is filed by a Director who does not hold any shares in the Company. However, the Applicant, subsequent to the filing of the Application, filed an authorization of the shareholder by name Mr. Tirumala Satya Sridhar ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . 10/-. 4. The main objects of the Company are to carry on the business of agriculture and agricultural operations of cultivating, ploughing, tilling, growing, harvesting, reaping, nurturing and trading of plants, crops, nurseries, plantations, seeds, fruits, plants, botanical plants, shrubs, herbs, creepers, vegetables, leaves and other farming and agriculture development activities on the lands owned by the Company or taken on lease or otherwise etc. 5. The Company filed Annual Returns and Financial Statements since Incorporation of the Company, till 31.03.2018, but due to oversight has not filed its Annual Returns and Financial Statements for the Financial Years 2018-2019, 2019-2020 2020-2021. It is stated that the Registrar of C ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Report No. ROCV/Reports/94115/Sec252/AMR/2022/277, dated 25.05.2022, wherein the details of the Company such as date of incorporation, address of the registered office and its main objects as per Memorandum of Association are mentioned. The RoC in its report stated that the Company failed to file any annual accounts and annual returns after 31.03.2018, hence the Company was identified for Strike off and 248 (1) notice was issued to the Company and its Directors and STK-5 notice dated 28.01.2022 was published in the Gazette and a paper publication is also given, informing all the stakeholders and uploaded in the MCA website. Thereafter the Company was marked for Strike off in MCA Portal and STK-7 notice was also published in the Gazette date ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... reholders of the Company as well as the Applicant are keen to carry on and perform the objects of the Company in right earnest. There have been substantial investments in the project. The Company is continuing its business. Unless the name of the Company is restored in the Register of Companies, it would suffer financially and may go out of business. The directors of the company would also face disqualification. 12. As regards the locus standi of the Applicant to file the Application according to Section 252, it is only the company, a member, creditor or workman that has to file the Application. But this Application is filed by a Director who does not hold any shares in the Company. However, the Applicant, subsequent to the filing of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eezed shall get defreezed and kept open for operation by the Company. iii. Upon compliance, the RoC, Andhra Pradesh on receipt of the Order shall in his official name and stamp, publish the order in the Official Gazette and restore the name of the Company in the Register of Companies forthwith. iv. The status of the Directors shall be restored to same position as nearly as may be as if the name of the Company had not been struck off from the Register of Companies. The DIN of the Directors, if disqualified under section 164 (2) of the Act, shall accordingly be restored. v. The Order however shall not fetter the authority of the RoC to take appropriate action against the Company for any other violation either prior to 31.03.202 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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