Appeal granted: M/s PBM Wires to restore name in Register with conditions for compliance

The Tribunal allowed the appeal for the restoration of M/s PBM Wires Private Limited's name in the Register of Companies maintained by RoC, Jaipur. Conditions were imposed, requiring the submission of financial statements, proof of fixed asset ownership, and payment of specified costs. The company must fulfill all statutory compliances within 30 days of restoration, with RoC ensuring compliance before the name restoration takes effect. Compliance with statutory requirements and timely submission of documentation were emphasized in the judgment.

---

---

Issues Involved:
- Restoration of company's name in the Register of Companies maintained by RoC, Jaipur due to default in statutory compliance.

Detailed Analysis:

Issue 1: Restoration of Company's Name
The appeal was filed by M/s PBM Wires Private Limited under Section 252 of the Companies Act, 2013, seeking restoration of its name in the Register of Companies maintained by RoC, Jaipur. The company's name was struck off by RoC due to non-compliance with statutory requirements, specifically the failure to file statutory documents for the financial years 2013-14 to 2016-17. The appellant acknowledged the error in mentioning its name as 'M/s PBM Wires Ltd.' instead of the correct name 'M/s PBM Wires Pvt. Ltd.' The Tribunal considered the appeal in light of the correct name and relevant documents submitted.

Issue 2: Compliance and Documentation
The company's main objective was stated to be in the business of manufacturing, processing, importing, buying, selling, and distributing various types of wires and wire products. Despite being active since its incorporation, the company failed to file annual returns and financial statements with RoC due to inadvertence and negligence by the management. The appellant provided an affidavit affirming fixed assets worth a certain amount and submitted supporting documents, including an allotment letter for land. RoC, in its report, did not raise any objections but directed the company to file the necessary returns as per the Companies Act, 2013.

Issue 3: Decision and Conditions for Restoration
After considering the facts, circumstances, and submissions made during the hearing, the Tribunal allowed the appeal for the restoration of the company's name, M/s PBM Wires Private Limited, in the Register of Companies. However, certain conditions were imposed for the restoration, including the submission of physical copies of financial statements for the relevant period, proof of ownership of fixed assets, and payment of specified costs to designated entities. The company was directed to fulfill all statutory compliances within 30 days of restoration, and RoC was instructed to ensure compliance before effecting the restoration.

Conclusion
The Tribunal's judgment granted the appeal for the restoration of the company's name, emphasizing the importance of compliance with statutory requirements and the submission of necessary documentation. The decision outlined specific conditions and timelines for the restoration process, including the payment of costs and fulfillment of statutory obligations post-restoration.

---