Company name restoration ordered after successful appeal against illegal striking off. The Tribunal allowed the appeal, declaring the striking off of the company's name as illegal. The restoration was ordered upon completion of all ...
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Company name restoration ordered after successful appeal against illegal striking off.
The Tribunal allowed the appeal, declaring the striking off of the company's name as illegal. The restoration was ordered upon completion of all formalities and payment of prescribed fees, including a contribution to the Prime Minister's Relief Fund. The company's name was restored to the Register of Registrar of Companies, as if it had not been struck off, in accordance with the Companies Act, 2013.
Issues involved: Appeal against striking off company's name under Section 252(1) of the Companies Act, 2013.
Analysis: 1. Background: The appeal was filed against the striking off of a company's name by the Registrar of Companies under Section 248(1) of the Companies Act, 2013.
2. Company Details: The company was incorporated as a Private Limited Company with a specific Authorized Share Capital and main business objectives related to managerial resourcing and other allied activities.
3. Reason for Striking Off: The company's name was struck off due to non-filing of Balance Sheets and Annual Returns for the Financial Years 2017, 2018, and 2019, indicating non-operation of the business.
4. Appellant's Evidence: The appellant provided evidence of the company's operations, including Audited Financial Statements, Bank Statements, Income Tax Returns, and GST Returns, demonstrating business activities and financial transactions.
5. ROC's Response: The Registrar of Companies had no objection to restoring the company's name if all pending statutory documents were filed with requisite late filing fees.
6. Legal Grounds: Section 252 of the Companies Act, 2013 provides grounds for restoration, requiring the company to be in operation or justifying restoration in the interest of stakeholders.
7. Decision: The Tribunal allowed the appeal, declaring the striking off of the company's name as illegal. The restoration was ordered upon completion of all formalities and payment of prescribed fees, including a contribution to the Prime Minister's Relief Fund.
8. Outcome: The company's name was restored to the Register of Registrar of Companies, as if it had not been struck off, in accordance with the Companies Act, 2013.
9. Conclusion: The appeal was allowed and disposed of, with the order to be served to the parties involved.
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