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Issues: Whether the name of the company, which had been struck off the register under the Companies Act, 1956, was liable to be restored under section 252(3) of the Companies Act, 2013 in view of the pending writ proceedings and the scope of the 1976 management-takeover legislation.
Analysis: The company had been struck off after notices issued under section 560 of the Companies Act, 1956 went unanswered. The dispute before the High Court showed that questions whether only the textile undertaking, or also other properties of the company, had been taken over or nationalised were still pending for adjudication. The 1976 Act was directed to takeover of management of the undertakings of the two companies, and its language did not support the conclusion that the entire company itself had been taken over. In these circumstances, striking off the company's name would impede its remedies in the pending writ proceedings. Although the ROC was justified on the facts in initiating strike-off for non-compliance, restoration was considered appropriate, with costs and compliance conditions.
Conclusion: The company's name was ordered to be restored to the register, and the impugned order of strike off was set aside, subject to payment of costs and filing of pending statutory returns.
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