Company name restored from 'Struck off' to 'Active' in Register of Companies with compliance directives

The Tribunal ordered the restoration of the company's name in the Register of Companies from 'Struck off' to 'Active.' The company was directed to file pending documents, pay costs for non-compliance, and ensure future compliance. The Registrar of Companies was to publish the order, with restoration limited to specific violations. The Company Appeal was disposed of, pending compliance formalities for the order's certified copy issuance.

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Issues: Restoration of Company Name in Register of Companies

Analysis:
1. Issue of Non-Filing of Annual Returns and Financial Statements: The application was filed under Section 252(3) of the Companies Act, 2013 for the restoration of a struck-off company's name in the Register of Companies. The company failed to file its Annual Returns and Financial Statements for multiple financial years, leading the Registrar of Companies (RoC) to believe that the company was not in operation, resulting in the strike-off.

2. Submission by Applicant's Counsel: The applicant's counsel argued that the non-filing was due to inadvertent mistakes and ignorance, emphasizing that the company was operational and conducting business activities. Evidence such as the filing of the return of income for the assessment year 2019-20 and regular transactions in the company's bank account were presented to support the claim that the company was active.

3. RoC's Report and Order: RoC did not appear during the proceedings but submitted a report suggesting that the appeal be allowed subject to the filing of pending documents with additional fees. After considering the submissions and evidence, the Tribunal noted the company's failure to file returns since incorporation but acknowledged the active bank account and the filing of the income tax return. The Tribunal found it just to restore the company's name, subject to the payment of costs for non-compliance.

4. Final Order and Directions: The Tribunal ordered the restoration of the company's name in the Register of Companies, changing its status from 'Struck off' to 'Active.' The company was directed to file all pending documents within 45 days of restoration, pay the specified costs for each year of default, and ensure compliance with the order. The Registrar of Companies was instructed to publish the order, and the restoration was limited to the violations leading to the strike-off, allowing RoC to take further actions for any other violations.

5. Disposal of Company Appeal: The Company Appeal was disposed of accordingly, and the issuance of an urgent certified copy of the order was subject to compliance with formalities.

This detailed analysis outlines the key issues, submissions, considerations, and the final order of the Tribunal regarding the restoration of the company's name in the Register of Companies.

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