Winding up granted for non-compliance under Companies Act, 2013. Provisional Liquidator appointed for asset management.

The Tribunal granted the winding up petition under Section 271(d) of the Companies Act, 2013 due to the company's inactivity and non-compliance with statutory requirements. The respondent's expenses for maintaining company assets were acknowledged, allowing compensation upon asset disposal. Section 248 clarified the Tribunal's authority to proceed with winding up despite the company's removal from the Register. A Provisional Liquidator was appointed to manage the winding up process, with directives for asset control and reporting. The order, dated April 9, 2021, outlined cooperation requirements and reporting procedures for all involved parties.

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Issues:
1. Winding up of the company under Section 271(d) of the Companies Act, 2013
2. Award of costs and expenses to the petitioners for filing the winding up petition
3. Consideration of respondent's objections and claims for expenses related to the company's assets
4. Interpretation of Section 248 of the Companies Act, 2013 in relation to the Tribunal's power to proceed with a winding up petition
5. Appointment of a Provisional Liquidator and related directions for the winding up process

Analysis:
1. The petitioners sought to wind up the company under Section 271(d) of the Companies Act, 2013, due to the company's failure to commence operations since its incorporation. The company's name was struck off by the Registrar of Companies for non-filing of statutory returns, leading to the petition for winding up. The RoC confirmed the company's strike off and non-filing of returns, meeting the criteria for winding up under Section 271(d).

2. The respondent, while not objecting to the winding up, claimed expenses incurred in maintaining the company's assets. The Tribunal acknowledged the respondent's expenses and directed that he be compensated when disposing of the company's assets, allowing him preference to purchase the property at a mutually agreed value.

3. Section 248 of the Companies Act, 2013 was analyzed to determine the Tribunal's power to proceed with a winding up petition even after the company's name was struck off. It was clarified that the Tribunal retains the authority to wind up a company despite its removal from the Register of Companies, as per Section 248(8).

4. In light of the above findings, the Tribunal appointed a Provisional Liquidator to oversee the winding up process. The Provisional Liquidator was directed to file a declaration, take control of company assets, and submit progress reports periodically. The final report on winding up was to be submitted within two months for the Tribunal's consideration.

5. The Tribunal's order included the appointment of the Provisional Liquidator, instructions for cooperation from the existing management, and directions for the handling and reporting of the winding up process. The order was dated April 9, 2021, and copies were to be sent to all relevant parties promptly.

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