Struck-off company's name restored by Tribunal under Companies Act, 2013

The Tribunal ordered the restoration of a struck-off company's name under Section 252 of the Companies Act, 2013. The company, despite facing non-filing issues, was found to have been operational during certain years based on financial evidence presented. The Appellant was directed to file pending documents, pay a cost of Rs. 1,25,000, and ensure compliance. The restoration was contingent on the Registrar of Companies changing the company's status to 'Active,' publication in the official Gazette, and adherence to statutory requirements. The order did not preclude further action by the ROC for other offenses.

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Issues:
Application for restoration of a struck-off company under Section 252 of the Companies Act, 2013.

Analysis:
1. The Appellant, a shareholder of the company, filed an Application under Section 252 of the Companies Act, 2013 seeking restoration of the company's name struck off by the Registrar of Companies, West Bengal due to non-filing of balance sheet and annual returns since 31-03-2013.
2. The Registrar of Companies, West Bengal, submitted a report stating that the company was struck off as it was not carrying on business or in operation based on non-filing of statutory returns. The ROC highlighted the disqualification of directors and the introduction of the 'Condonation of Delay Scheme-2018' for revival of struck-off companies.
3. The Tribunal considered the contentions of both parties. The Appellant argued that the company was in operation but failed to file returns due to lack of knowledge. Financial statements, bank statements, and IT returns were presented to support the claim of the company being operational at the time of striking off.
4. The Tribunal examined the financial status of the company from 2013 to 2018, showing profitability in some years. The Appellant's submission of IT returns for multiple assessment years further indicated business activity.
5. The Tribunal found that the company was indeed in operation during certain years and ordered restoration of its name. The Appellant was directed to file pending documents within 45 days of restoration, pay a cost of Rs. 1,25,000, and ensure compliance with the order.
6. The restoration was subject to the ROC changing the company's status to 'Active,' publication of the order in the official Gazette, and compliance with other statutory requirements.
7. The Tribunal clarified that the order pertained to violations leading to the striking off and did not preclude the ROC from taking action for other offenses committed by the company.
8. The Appeal was disposed of accordingly, with provisions for obtaining an urgent certified copy of the order upon compliance with formalities.

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