Restoration of struck-off company allowed where records showed continued business activity and operation as a going concern.

A struck-off company may be restored to the register under Section 252(3) of the Companies Act, 2013 where the material on record shows continued business activity or operation. Here, provisional financial statements, provisional income-tax returns, revenue from operations for later years, and additional documents rebutted the Registrar's objections about non-filing of later records and bank statements. On that basis, the Tribunal was satisfied that the company remained in existence and carried on business as a going concern, and restoration was held to be just. The company's name was directed to be restored in the register of companies.

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Issues: Whether the name of the struck-off company deserved restoration in the register of companies under Section 252(3) of the Companies Act, 2013.

Analysis: The application was supported by material showing continued business activity, provisional financial statements, provisional income-tax returns, and revenue from operations for subsequent years. The objections raised by the Registrar regarding non-filing of later balance sheets, income-tax returns, and bank statements were met by additional documents placed on record. On the material available, the company was found to be in existence and carrying on business as a going concern, and the statutory conditions for restoration were satisfied.

Conclusion: The company's name was directed to be restored in the register of companies.

Ratio Decidendi: A struck-off company may be restored when the Tribunal is satisfied, on the basis of material on record, that it was carrying on business or was otherwise in operation and that restoration is just.

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