Court grants final chance under CODS-2018, directs compliance in voluntary dissolution and revival cases.

The court granted the petitioner a final opportunity to avail of the Condonation of Delay Scheme, 2018 (CODS-2018) by directing them to file necessary documents and resolutions for voluntary dissolution of non-operational companies within four weeks. The Registrar of Companies would review the submissions for compliance with the Companies Act, 2013. The petitioner was also instructed to approach the National Company Law Tribunal (NCLT) for revival of companies with business activities or assets that were struck off. The court stayed the petitioner's inclusion in the disqualified directors' list pending compliance with the directives.

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Issues:
Challenging inclusion in disqualified directors' list, non-operational companies, seeking benefit of Condonation of Delay Scheme, voluntary dissolution of non-operational companies, filing appeals before NCLT, stay on inclusion in disqualified directors' list.

Analysis:
The petitioner challenged their inclusion in the disqualified directors' list due to their association with various companies that have not conducted any business for the past three years. These companies lack assets and operational bank accounts, and the petitioner failed to file required returns under the Companies Act, 2013 for these entities. Additionally, the petitioner is involved with other companies that have conducted business or hold assets. The petitioner expressed a desire to benefit from the Condonation of Delay Scheme, 2018 (CODS-2018), but due to some companies being struck off the register, they were unable to avail of the scheme.

The petitioner stated their inability to revive non-operational companies and expressed willingness to voluntarily dissolve such entities under Section 248(2) of the Act if given the opportunity. For companies that have conducted business or hold assets, the petitioner planned to file appeals before the National Company Law Tribunal (NCLT) under Section 252 of the Act. The court acknowledged the petitioner's situation and granted a final opportunity to avail of CODS-2018, issuing specific directives to fulfill necessary requirements within a stipulated timeline.

The court directed the petitioner to file all requisite documents for CODS-2018, submit resolutions for voluntary striking off non-operational companies, and make necessary applications within four weeks. The Registrar of Companies would scrutinize the submissions, granting CODS-2018 benefits if compliant with Section 248(2) of the Act. The petitioner was also instructed to approach the NCLT for revival of companies with business activities or assets that were struck off, within the same timeframe. The court stayed the inclusion of the petitioner's name in the disqualified directors' list until a specified date.

The order was made based on the petitioner's unequivocal statements, warning of potential Contempt of Court if found incorrect. The court disposed of the petition and pending application, emphasizing the importance of adherence to the directives provided in the judgment.

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