LLP Restoration Allowed under Companies Act: Tribunal Applies Companies Act, 1956 Provisions The Tribunal allowed the appellant's appeal under section 252(3) of the Companies Act, 2013, permitting the restoration of the Limited Liability ...
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The Tribunal allowed the appellant's appeal under section 252(3) of the Companies Act, 2013, permitting the restoration of the Limited Liability Partnership (LLP) that was struck off under section 75 of the LLP Act, 2008. It held that the provisions of the Companies Act, 1956 could be utilized in the absence of specific provisions for restoring struck off LLPs under the LLP Act, 2008. The Tribunal emphasized the continued applicability of certain provisions of the Companies Act, 1956 to LLPs until relevant notifications were issued under the Companies Act, 2013.
Issues: 1. Restoration of company name on the registrar of companies. 2. Applicability of Companies Act 1956 and Companies Act 2013 to Limited Liability Partnerships (LLPs). 3. Restoration of LLP struck off under section 75 of the LLP Act, 2008 under section 252 of the Companies Act, 2013.
Analysis: 1. The appellant company filed a petition seeking restoration of its name on the registrar of companies due to defaults in compliances, leading to its strike off by the ROC Mumbai. The company maintained it was active since incorporation and had engaged a Company Secretary for filing returns, but did not receive a show cause notice before being struck off.
2. The ROC contended that the petition was filed under incorrect provisions as the LLP was governed by the LLP Act, 2008, not the Companies Act, 2013. The ROC highlighted the non-compliance of statutory requirements by the appellant company, leading to the strike off under section 75 of the LLP Act, 2008.
3. The Tribunal analyzed the provisions of the Companies Act, 1956 and 2013 in relation to LLPs. It noted that the Central Government had declared the applicability of section 560 of the Companies Act, 1956 to LLPs through a notification. This allowed for the restoration of struck off companies under section 560. The Tribunal emphasized that the Companies Act, 2013 continued to apply certain provisions of the Companies Act, 1956, including section 560, until relevant notifications were issued.
4. The Tribunal concluded that in the absence of a specific provision for restoration of struck off LLPs under the LLP Act, 2008, the provisions of the Companies Act, 1956 could be relied upon. It held that section 252 of the Companies Act, 2013 could be applied to restore LLPs struck off under section 75 of the LLP Act, 2008. The appeal by the appellant under section 252(3) of the Companies Act, 2013 was allowed, providing the remedy for restoration of the LLP.
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