9911796707
TMI Blog2023 (6) TMI 105X X X X Extracts X X X X X X X X Extracts X X X X ..... ain : This appeal is directed against the order dated 11.04.2022, passed by the National Company Law Tribunal, Bench II, New Delhi by which an Appeal No. 509/252/(ND)/2020, filed by the Appellant, under Section 252 of the Companies Act, 2013 (in short 'the Act') for restoration of the name of the Appellant Company to the register of the Registrar of Companies, NCT of Delhi and Haryana (Registrar) has been declined. 2. The brief facts of this care are that the Appellant Company was incorporated under the Companies Act, 1956 on 26.04.2007 vide CIN U45400DL2007PTC162637 as a Pvt. Company Ltd. by shares with the Registrar of Companies, NCT of Delhi and Haryana having its registered office at New Ashok Nagar, New Delhi. 3. The main objects o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... many years. This amount is almost equivalent to loan taken from related concern. In earlier years, this amount has been shown as sundry creditors" The Tribunal sought specific comments from the Registrar in respect of this observation of Income Tax Department. The Registrar filed an additional affidavit on 01.12.2021 which has been noticed in the impugned order and it has also noticed that the Registrar has stated that it has no objection if the name of the Company is restored to the register of ROC. However, the Learned Tribunal noticed in the impugned order that the Appellant has paid the Income Tax only in the assessment year 2009 -10. The tripartite collaboration agreement dated 05.07.2008 signed amongst Mr. K.H. Khan, Mrs. Shaheda Beg ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Company was struck off. In this regard, it is submitted that the Appellant was very well in operation when the name of the Appellant Company was struck off which is evidenced by the tripartite collaboration agreement dated 05.07.2008 entered into between the developer company, Karar Ahmed and M/s Upkar Developers because the intent of the said collaboration agreement was to develop the land into a project, named, 'the Arena' comprising of a township consisting of a residential layout, residential buildings, commercial complexes alongwith clubhouses, swimming pools, etc and other similar developments and for the said purpose various parcels of lands situated at village, Kengeri Hobli, Bangalore South Taluk, admeasuring 36 Acres and 4 guntas ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Company for the year 2015- 16. The provident fund and TDS payments have been made which indicates that taxes and mandatory statutory compliances have been made which are also reflected in the balance sheet for the year 2015-17. 9. Counsel for the Appellant has further argued that Section 252 (3) provides that name of the company can be restored if it is carrying on business or is in operation or otherwise it is just. In this regard, Counsel for the Appellant has relied upon the decisions of this Tribunal in the case of AVS Enterprises Pvt. Ltd. Vs. Registrar of Companies, Delhi and Ors. CA (AT) No. 47 of 2021, Urvashi Infrastructure Limited Vs. Registrar of Companies, Delhi and Haryana CA (AT) No. 28 of 2021 and Sidhant Garg and Anr. Vs. R ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... artite collaboration agreement dated 05.07.2008 between the Developer Company, Karar Ahmad and M/s Upkar Developers to develop a project, namely, Arean the land admeasuring 36 acres and 4 guntas was transferred to the Appellant by way of assignment agreement dated 25.01.2020 by which the developer transferred all of its rights, duties and obligation mentioned in clause 2.7 of the collaboration agreement to the Appellant company for operational convenience of implementing and marketing the project, namely, Arena which was undertaken in pursuance to the joint development agreement dated 08.02.2007 and the memorandum of understanding dated 25.04.2008. It has also been brought on record that the details of the projects undertaken by the Corpora ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
