Company's Restoration Petition Granted: Name Reinstated from 'Struck Off' to 'Active'

The Tribunal granted the restoration petition under Section 252 of the Companies Act, 2013, ordering the struck off company's name to be reinstated from 'struck off' to 'Active'. The company, found to be a going concern at the time of striking off, was directed to submit pending statutory documents, pay a restoration cost, and comply with specified timelines. The Registrar of Companies, West Bengal, was tasked with implementing the restoration, subject to original violations. The case concluded with instructions for publication and communication to relevant parties.

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Issues:
1) Restoration of name of struck off company in the register of companies.
2) Non-filing of financial statements and annual returns.
3) Compliance with Section 248 of the Companies Act, 2013.
4) Company being a going concern at the time of striking off.
5) Sympathetic consideration for restoration petition.

Analysis:
1) The Company Petition sought restoration of the name of a struck off company under Section 252(3) of the Companies Act, 2013. The company had failed to file its Balance Sheets and Annual Returns since the financial year 31-03-2013, leading to its name being struck off on 30th June, 2017 by the Registrar of Companies, West Bengal.

2) The petitioner contended that due to business and financial constraints, the company couldn't file Financial Statements and Annual Returns for the years 2014 to 2017. The company presented financial documents to support its claim. The Ld. Counsel requested restoration of the company's name based on these grounds.

3) The Registrar of Companies, West Bengal, after receiving notice, reported that the company's name was struck off only after fulfilling requirements under Section 248 of the Companies Act, 2013. The Registrar did not object to the restoration application, indicating no opposition to the company's revival.

4) Upon reviewing the application, the Tribunal found that the company was operational and a going concern when its name was struck off. Notably, ROC West Bengal did not raise any objections to the restoration petition, leading the Tribunal to consider the plea sympathetically.

5) In the exercise of powers under Section 252 of the Companies Act, 2013, the Tribunal ordered the restoration of the company's name. The Registrar of Companies, West Bengal was directed to reinstate the company's status from 'struck off' to 'Active'. The petitioner was instructed to submit pending statutory documents and pay a restoration cost of Rs. 60,000 within specified timelines. Compliance and delivery of the order to the Registrar were mandated for further actions, with the restoration being subject to the original violations. The case was disposed of, with orders for publication and communication to all concerned parties.

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