Restoration of struck-off company name granted where records showed ongoing business, assets, and need to regularise compliance.

A struck-off company's name was restored to the Register of Companies under Section 252(3) of the Companies Act, 2013 after the Tribunal found material showing it was carrying on business as a going concern. The company had filed financial statements, held tangible and current assets, maintained stock, and was described as an ongoing business concern. In light of the ROC report and the statutory power to restore a company where it is still in operation or where restoration is otherwise just, the Tribunal held that restoration would allow the company to regularise compliance and deal with its assets, and directed restoration of the name.

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Issues: Whether the name of the struck off company should be restored to the Register of Companies under Section 252(3) of the Companies Act, 2013 on the ground that it was carrying on business and that restoration was otherwise just.

Analysis: The Tribunal noted that the company had incorporated financial statements, showed tangible and current assets, held stock, and was described as an ongoing business concern. It also took note of the ROC report and the statutory framework permitting restoration where the company was in operation or where restoration was otherwise just. On the material placed, the Tribunal accepted that the company continued to exist as a going concern and that restoration would enable it to regularise compliance and deal with its assets.

Conclusion: The application for restoration was allowed and the company's name was directed to be restored to the Register of Companies.

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