Tribunal restores company name in Register of Companies, emphasizes compliance

The tribunal allowed the appeal for the restoration of the company's name in the Register of Companies maintained by the RoC. The company was directed to comply with the Companies Act, 2013, and pay specified costs within a set time frame. The tribunal emphasized prompt fulfillment of all statutory compliances after restoration, including activating directors' DIN and adding new directors if needed. Certified copies of the order were to be sent to the appellants, Income Tax Department, and RoC for necessary action.

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Issues: Restoration of Company's Name in Register of Companies and Activation of Bank Account

Issue 1: Restoration of Company's Name in Register of Companies
The appeal was filed under Section 252 of the Companies Act, 2013, seeking restoration of the company's name in the Register of Companies maintained by the Registrar of Companies, Jaipur (RoC). The company's name was struck off by RoC due to default in statutory compliance, specifically the failure to file statutory documents since the financial year 2013-14. The appellants, being members of the company, presented evidence that the company was operational during the period of striking off, despite the inadvertent failure to file necessary returns and statements with RoC. The appellants provided various documents, including balance sheets, bank statements, income tax returns, and sale deeds, to demonstrate the company's activities and financial status during the period in question. The RoC did not raise any objections but directed the company to file the required returns as per the Companies Act, 2013.

Issue 2: Activation of Company's Bank Account
The appeal also sought the activation of the company's bank account, which had been frozen due to the strike off notice. The tribunal considered the facts and circumstances of the case, along with the submissions made by the appellants and the Income Tax Department. The tribunal found it to be a fit case for the restoration of the company's name in the Register of Companies. The tribunal allowed the appeal, ordering the restoration of the company's name with specific directions for compliance. The company was directed to pay specified costs to various entities within a stipulated time frame. Additionally, the tribunal directed the company to fulfill all relevant statutory compliances within 30 days from the restoration of its name, including marking the DIN of directors as 'Active' and facilitating urgent addition of new directors if required, in accordance with applicable laws and previous court decisions.

Final Decision
The tribunal allowed the appeal, ordering the restoration of the company's name in the Register of Companies maintained by the RoC. The company was directed to comply with the provisions of the Companies Act, 2013, and pay specified costs within a set time frame. The tribunal emphasized the need for the company to fulfill all statutory compliances promptly after restoration. Certified copies of the order were to be communicated to the appellants, the Income Tax Department, and the Registrar of Companies, Jaipur for necessary action.

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