Company name restoration justified where assets, business steps and pending compliances showed continuing commercial substratum.

A company whose name had been struck off was restored on proof of continuing commercial substratum, including audited accounts, lease documents, utility approvals, income-tax return acknowledgements, fixed assets and borrowings, which showed concrete steps to commence and carry on business. On that material, the tribunal found restoration justified in the interest of justice. The name was ordered to be restored in the register, subject to payment of costs and filing of pending financial statements and annual returns within the stipulated time.

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Issues: Whether the company's name, having been struck off from the register, should be restored on the showing that it had assets, business-related steps, pending compliances, and an intention to continue operations.

Analysis: The company produced audited accounts, lease documents, utility approvals, income-tax return acknowledgements, and material showing fixed assets and borrowings. These documents indicated that the company had taken concrete steps toward commencing and carrying on business and that its name had been removed notwithstanding its continuing commercial substratum. In these circumstances, restoration was considered justified in the interest of justice.

Conclusion: The request for restoration was allowed and the company's name was ordered to be restored in the register, subject to payment of costs and filing of pending financial statements and annual returns within the stipulated time.

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