Restoration of struck-off company name under Companies Act allowed where statutory conditions and justice requirements are satisfied.

Section 560(6) of the Companies Act, 1956 permits restoration of a struck-off company's name if the application is timely and the Court is satisfied that the company was carrying on business or otherwise in operation when struck off, or that restoration is just. A company removed under the Fast Track Exit Scheme is not automatically barred from restoration if those statutory conditions are met. On the stated facts, the petition was within limitation, duly authorised, unopposed subject to compliance, and restoration was treated as just and proper, with filing of pending annual returns and balance sheets as a condition.

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Issues: Whether the name of a company struck off from the register under the Fast Track Exit Scheme could be restored under Section 560(6) of the Companies Act, 1956, and whether the circumstances justified such restoration.

Analysis: Section 560(6) empowers the Court to restore a company's name if the application is made within the prescribed period and the Court is satisfied that the company was carrying on business or otherwise in operation at the time of striking off, or that it is just that the company be restored. The petition was within limitation, was supported by board authorisation, and the respondent did not oppose restoration, subject to compliance with statutory filing requirements. The Court also noted that a company struck off under an exit scheme is not, as a matter of law, barred from restoration where the statutory conditions are met. On the facts, restoration was found to be just and proper.

Conclusion: The name of the petitioner company was ordered to be restored to the register, subject to filing the pending annual returns and balance sheets with the prescribed fees and additional fees, and the company, its directors and members were to stand restored as if the name had not been struck off.

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