TMI Blog2023 (2) TMI 616X X X X Extracts X X X X X X X X Extracts X X X X ..... operations. Hence, the order passed by the National Company Law Tribunal (Court-V, New Delhi) as well as Registrar of Companies, NCT of Delhi Haryana is not sustainable in law. The name of the Appellant Company be restored to the Register of Companies subject to the compliances imposed. - Company Appeal ( AT ) No. 74 of 2022 - - - Dated:- 16-2-2023 - [Justice Anant Bijay Singh] Member (Judicial) And [Mr. Kanthi Narahari] Member (Technical) For the Appellant : Mr. Yogesh Swaroop, Mr. Alok Kr. Palai, Advocates For the Respondent : Ms. Mitika Raja, AROC JUDGMENT Justice Anant Bijay Singh ; The present Appeal under Section 421 of the Companies Act, 2013, has been filed by the Appellants being aggrieved and dissat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s Rs. 6,57,000/- divided into 6570/- equity shares of Rs. 100/- each. The Financial Statement for the Financial Year of 2004-05, 2005-06, 2006-07, 2007-08, 2008-09, 2009-10, 2010-11, 2011-12, 2012-13, 2013-14, 2014-15, 2015-16, 2016-17 and 2017-18 are evident of the financial position of the company. iv) The Appellants checked Ministry of Corporate Affairs Portal (MCA21 Portal) for electronic filing of statutory documents. The Appellants came to learn that the status of the Company was showing Strike Off . Thereafter, the representative of the company had engaged a Company Secretary in whole time practice to advice for the aforesaid matter. The Company Secretary in hole time practice informed that the name of the said company has alread ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... llant herein after resolving all internal disputes among the shareholders and management of the company, approached the Respondent No. 1 to restore the status of the Company of the Appellant but the Respondent No. 1 refused to accept it on the ground that the name of the company has been struck off from the register. 4. It is further submitted that the without restoring the name of the Appellant company in the register of the Registrar of Companies, the Appellant company is losing the legal status/entity of the company to run or deal day to day operations/business activities. The delay in filing of Balance Sheets and Annual Returns were unintentional and without any willful or deliberate action bonafide to the reasons of. The Appellant c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 6, no records of the Annual returns Balance Sheet submitted by this Company to this office as per the records exist. Moreover, no subsequent documents had been filed by the company with this office to obtain the status of a Dormant Company under Section 455 of the Companies Act, 1956. Due to pending audited financials this office had reasonable cause to believe that the company was not in operation and therefore, the name of the company was considered for striking off from the Register of Companies. The name of the company was struck off as per the provision of Section 560(5) of the Companies Act, 1956 dated 31.05.2007. However, the company has submitted pending audited financials with application which are hereunder: ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y is not carrying on any business or operations. Hence, we are of the view that the order passed by the National Company Law Tribunal (Court-V, New Delhi) as well as Registrar of Companies, NCT of Delhi Haryana is not sustainable in law. 9. In view of the aforenoted, we set aside the impugned order dated 08.10.2021 passed by the National Company Law Tribunal (Court-V, New Delhi) in Appeal 109/252/ND/2021. The name of the Appellant Company be restored to the Register of Companies subject to the following compliances. i) Appellant Company shall pay costs of Rs. 1,00,000/- (Rupees one Lakh) to the Registrar of Companies, NCT of Delhi Haryana within eight (8) weeks from the passing of this Judgment. ii) After restoration of the Com ..... X X X X Extracts X X X X X X X X Extracts X X X X
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