Tribunal orders restoration of company name under Companies Act, 2013 The Tribunal ordered the Registrar of Companies to restore the name of the Respondent-Company in the Register of Companies under section 252 of the ...
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Tribunal orders restoration of company name under Companies Act, 2013
The Tribunal ordered the Registrar of Companies to restore the name of the Respondent-Company in the Register of Companies under section 252 of the Companies Act, 2013. The Company Petition seeking restoration was allowed, considering the company's ongoing business operations and the deemed just nature of the restoration.
Issues: - Restoration of company name in the Register of Companies under section 252 of the Companies Act, 2013.
Analysis: The Company Petition was filed seeking relief against the Respondent, the Registrar of Companies (ROC), Mumbai, to restore the name of the Company in the Register of Companies. The Petitioner argued that the company's name was struck off by the ROC, and there were pending income tax proceedings and outstanding demands under the Income Tax Act, 1961. The Petitioner highlighted that the Erstwhile Company was assessed for tax under the Income-tax Act, 1961, and assessment proceedings were ongoing. Additionally, financial transactions for the Assessment year 2011-12 were mentioned, with a notice issued under section 148 of the I.T. Act, 1961. The Petitioner expressed concerns about the difficulty in assessing the company due to its struck-off status, leading to potential revenue loss for the Government of India.
The Authorized Representative for the Respondent ROC did not object to the restoration of the company's name. The Petition was filed within the limitation period specified in Section 252 of the Companies Act, 2013. The Tribunal, considering the circumstances and Section 252 provisions, found that the company should be restored if it was carrying on business or in operation at the time of being struck off, or if restoration is deemed just. Consequently, the Tribunal ordered the Registrar of Companies to immediately restore the name of the Respondent-Company in the Register of Companies. The Company Petition was allowed and disposed of accordingly, with instructions to communicate the order to the relevant authorities.
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