Tribunal Orders Restoration of Struck-Off Company Name

The Tribunal allowed the appeal, directing the Registrar of Companies to restore the name of a company struck off by the Registrar. The decision was based on public interest, revenue protection, and compliance with statutory requirements. The Tribunal imposed conditions including publication of notices, compliance with the Companies Act, and exemption of time for legal proceedings.

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Issues:
- Restoration of the name of a company struck off by the Registrar of Companies.
- Applicability of sections 252(1) and 252(3) of the Companies Act, 2013.
- Justification for restoring the name of the company.
- Compliance with statutory requirements post restoration.

Analysis:

Issue 1: Restoration of the Company's Name
The Tribunal dealt with an appeal filed by the Department of Income Tax seeking the restoration of the name of a company, M/s. Navyug Consultancy Pvt. Ltd., which was struck off by the Registrar of Companies. The Department sought orders to direct the Registrar to restore the company's name in the Register of Companies.

Issue 2: Applicability of Sections 252(1) and 252(3)
The Tribunal noted the difference between sections 252(1) and 252(3) of the Companies Act, 2013. While section 252(1) pertains to cases where the Registrar notifies a company as dissolved, section 252(3) deals with situations where a company, member, creditor, or workman feels aggrieved by the company's name being struck off. The Tribunal acknowledged that the appeal should have been filed under section 252(1) but cited a Supreme Court judgment allowing consideration under section 252(1) despite the initial reference to section 252(3).

Issue 3: Justification for Restoration
The Tribunal considered public interest and the legitimate interest of revenue in deciding to restore the company's name. It emphasized the need to enable the Income Tax Department to proceed further in accordance with the law and rules, justifying the restoration of the company's name in the Register of Companies.

Issue 4: Compliance with Statutory Requirements
After allowing the appeal and directing the restoration of the company's name, the Tribunal imposed certain conditions. These included the publication of notices in newspapers and the Official Gazette, compliance with Companies Act requirements, and exemption of time consumed in the proceedings for the initiation of Income Tax or legal proceedings against the company.

In conclusion, the Tribunal allowed the appeal, directing the Registrar of Companies to restore the name of M/s. Navyug Consultancy Pvt. Ltd. in the Register of Companies. The decision was based on considerations of public interest, revenue protection, and compliance with statutory requirements.

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