TMI Blog2022 (9) TMI 806X X X X Extracts X X X X X X X X Extracts X X X X ..... s prescribed. Moreover, nobody would be prejudiced by the restoration of the name of the Company. On the contrary, the restoration is clearly in the interest of the Company. Even, if the management of the Company entrusted with the responsibility of filing of statutory returns had failed to do so, yet since the Company is a running company and the application has been filed in time, the Tribunal clearly has the power to restore the name of the Company. The lapses on the part of the management in non-filing of annual returns and financial statements in time can be countered by imposing cost. In the given facts and in order to achieve the most satisfactory and fairest solution, the restoration of the running company despite its default is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... incorporated as Company on 06.02.2015 as a private limited company under the provisions of Companies Act, 2013, having its registered office at RZK-77, K Block, New Roshanpura, Najafgarh, Delhi 110043 lying within the territorial jurisdiction of this Tribunal. The name of the Company was struck off from the Register of Companies under Section 248 of the Companies Act, 2013, by a suo moto action of the Respondent, after issuance of the notification under Section 248(5) in the Official Gazette dated 29.10.2019. The aforesaid action was taken without even sending a notice under section 248(1) of the act in Form No. STK-1 to the directors/Applicant of the company, thus giving no chance to the company to put its stance on the intention of the Re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... document except the ITRs of 2015-16, 2016-17 and 2017-18, which are insufficient to prove that the company was in operation when it was struck off or is still in operation and is conducting any business. Therefore, the striking down of the company's name from the Registrar of Companies was justified and legal as the company was not carrying on any operations for a period of two immediating preceding financial years. 6. A bare perusal of the aforesaid provision shows that any person aggrieved by the order of the Registrar, notifying a company as dissolved under Section 248 is competent to file an appeal to the National Company Law Tribunal. If a company or any member or creditor feels aggrieved, they would also be competent to file a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f there is no owner of any land, there is every likelihood of the said land will waste away by encroachment or otherwise or it will become a den for anti-social activities. Fraudulent sale of land in our Country is not uncommon, which would be revealed from the perusal of innumerable case reports where land involved in the suit or proceeding was illegally and fraudulently transferred. 15. For all these reasons, I am of the considered opinion that this application deserves to be allowed and consequently, the name of the Petitioner No. 1 Company, i.e. Felpact Private Limited is ordered to be restored to its original status, as if the name of the Company had not been struck off. 8. It is also pertinent to refer here the case of Vat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... do so cannot be accepted, yet since the company was a running company and the application had been filed in time, the court had power to restore the name of the company. 11. As a sequel to the aforesaid discussion, it is seen from the documents available on record that the company possesses lands registered in its name. Besides 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 on payment of fees as prescribed. Moreover, nobody would be prejudiced by the restoration of the name of the Company. On the contrary, the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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