Tribunal Grants Appeal for Restoration of Struck-Off Company: Compliance, Just Grounds, and Asset Consideration

The Tribunal granted the appeal for the restoration of M/s. Vishwa Printers & Packagers Private Limited, which was struck off by the Registrar of Companies under Section 248 of the Companies Act, 2013. The Tribunal found that the company had complied with statutory requirements, had just and equitable grounds for restoration, and had substantial assets indicating ongoing business operations. The Registrar was directed to restore the company's name to 'Active,' with the Appellant required to file outstanding documents and pay a cost of Rs. 50,000 for revival within thirty days. Publication requirements were also outlined for the restoration process.

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Issues:
1. Restoration of name of a company struck off by the Registrar of Companies.
2. Compliance with statutory requirements for restoration.
3. Just and equitable grounds for restoration.
4. Direction to restore company's name and consequential actions.
5. Payment of costs for revival of the company.

Issue 1: Restoration of name of a company struck off by the Registrar of Companies

The appeal was filed for the restoration of the name of M/s. Vishwa Printers & Packagers Private Limited, which was struck off by the Registrar of Companies, Uttar Pradesh, under Section 248 of the Companies Act, 2013. The Appellant claimed that the company had been active since its incorporation and had complied with statutory filings, including financial statements and annual returns.

Issue 2: Compliance with statutory requirements for restoration

The Appellant submitted evidence of compliance, including audited balance sheets, income tax returns, and details of assets held by the company. The Income Tax Authorities confirmed that the company had filed returns for the relevant years without any pending demands. The Tribunal noted that the company had substantial movable and immovable assets, indicating that it was carrying on business operations.

Issue 3: Just and equitable grounds for restoration

The Tribunal examined Section 252 of the Companies Act, 2013, which allows for the restoration of a company's name if it is just and equitable to do so. It was established that the Appellant had assets justifying restoration, and it was deemed unfair to deny restoration solely based on the failure to file annual returns. The Tribunal emphasized that refusing restoration for such oversight would be excessive, citing precedents from various courts.

Issue 4: Direction to restore company's name and consequential actions

After considering the facts and circumstances, the Tribunal ordered the Registrar of Companies to restore the name of the Appellant Company, changing its status from 'Strike Off' to 'Active.' The Appellant was directed to file all outstanding statutory documents within thirty days of restoration, along with prescribed fees. Additionally, a cost of Rs. 50,000 was imposed for revival, to be paid online through the official portal.

Issue 5: Payment of costs for revival of the company

The restoration of the company's name was subject to the payment of the specified cost within the stipulated time frame. The Appellant was instructed to provide a certified copy of the order to the Registrar of Companies and publish a notice in a leading newspaper in the district, with approval from the RoC. The RoC was directed to publish the restoration in the Official Gazette at the Appellant's expense.

In conclusion, the Tribunal granted the appeal, ordering the restoration of the company's name with specific directions for compliance and publication.

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