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of <h1>Tribunal restores company name in Register following evidence of assets and liabilities</h1> <h3>Ms. Premalathadevi Tedlapally & 2 others Versus Sundari Technologies Pvt Ltd & Registrar of Companies</h3> Ms. Premalathadevi Tedlapally & 2 others Versus Sundari Technologies Pvt Ltd & Registrar of Companies - TMI Issues:1. Restoration of company name in Register of Companies2. Compliance with statutory requirements for filing Financial Statements and Annual Returns3. Payment of costs to Registrar of Companies for restorationAnalysis:1. Restoration of company name in Register of Companies:The Company Application sought restoration of the name of the company in the Register of Companies after it was struck off by the Registrar of Companies due to non-compliance with filing requirements. The Applicant provided evidence of the company's assets and liabilities, including substantial immovable property. The Tribunal found it just and proper to order the restoration of the company's name, considering the oversight on the part of the company and the evidence presented. Refusal to restore the name was deemed excessive, and the order for restoration was granted.2. Compliance with statutory requirements for filing Financial Statements and Annual Returns:The Applicant was directed to file all pending Financial Statements and Annual Returns with the Registrar of Companies, as per the Companies Act and related rules. The company was instructed to comply with all provisions of the Companies Act, 2013 without delay in the future. Additionally, the Applicant was required to file Form INC 28 as per the prescribed procedure to ensure full compliance with statutory obligations.3. Payment of costs to Registrar of Companies for restoration:As part of the restoration process, the Applicant was directed to pay a cost of Rs. 25,000 to the Registrar of Companies. This amount was to cover expenses incurred by the Registrar for publication in the Official Gazette and other related expenses. The payment of this cost was a prerequisite for the restoration of the company's name in the Register of Companies.In conclusion, the Tribunal allowed the Company Application, ordering the restoration of the company's name in the Register of Companies, subject to compliance with statutory filing requirements and the payment of the specified cost to the Registrar of Companies.
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