Restoration of struck-off company name allowed subject to pending filings, undertaking, and costs

A struck-off company's name was restored to the register under Section 252(3) of the Companies Act, 2013 after the Tribunal considered the company's request for revival and the Registrar's report that it had stopped filing balance sheets and annual returns from financial year 2012 and had been struck off under Section 248(1) read with the 2016 Rules. The Registrar did not oppose restoration and left the matter to the Tribunal. Restoration was allowed on terms, including compliance with pending statutory filings after restoration, an undertaking regarding use of accounts during demonetization, and payment of costs.

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Issues: Whether the applicant company's name, which had been struck off from the register of companies, should be restored under Section 252(3) of the Companies Act, 2013.

Analysis: The applicant sought restoration of its name to the register after strike off. The Registrar of Companies reported that the company had stopped filing balance sheets and annual returns after the financial year 2012 and that action had been taken for striking off under Section 248(1) of the Companies Act, 2013 read with Rule 3 of the Companies (Removal of Name of Companies from the Register of Companies) Rules, 2016. The Registrar did not oppose restoration and left the matter to the Tribunal. Taking the facts and circumstances into account, the Tribunal found restoration appropriate, while requiring post-restoration compliance with pending statutory filings, an undertaking regarding use of accounts during demonetization, and payment of costs.

Conclusion: The application for restoration of the company's name was allowed and the name was ordered to be restored to the register of companies.

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