Company Application Granted for Restoration under Companies Act

The Tribunal allowed Company Application No. 602/2020 for restoration under Section 252(3) of the Companies Act, 2013. The company's status was restored to "Active," requiring filing of pending statutory documents within 30 days and payment of a Rs. 50,000 cost. The petitioner must ensure compliance, deliver the order to the Registrar, and the Registrar will publish it in the Official Gazette. Further legal actions were permitted for other violations. The application was disposed of with the provision for issuing a certified copy of the order upon completion of formalities.

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Issues:
Company restoration under Section 252(3) of the Companies Act, 2013.

Analysis:
The Company Application No. 602/2020 sought restoration of a company in the Register of Companies under Section 252(3) of the Companies Act, 2013. The petitioner, M/s. Neem Tree Enterprises Private Limited, represented by its shareholder, provided evidence to prove that the company was active since its incorporation and maintained necessary documentation. However, the company defaulted in filing statutory returns for several financial years. The Registrar of Companies, Chennai, stated that the company's non-compliance led to its strike off from the register. Despite the non-compliance, the Tribunal decided to allow the application for restoration based on the documents and pleadings presented.

The Tribunal ordered the restoration of the company's status to "Active" as if it was never struck off from the Register of Companies. The company was directed to file all pending statutory documents, including Income Tax Returns, Annual Returns, and Financial Statements from 2016-2017 onwards within 30 days of the restoration, along with prescribed fees. The petitioner was personally responsible for ensuring compliance with the order. Additionally, a cost of Rs. 50,000 was imposed for the revival of the company, to be paid online through the specified portal. The petitioner was required to deliver a certified copy of the order to the Registrar of Companies, Chennai, within 30 days. Upon compliance with the directions, the Registrar was instructed to publish the order in the Official Gazette. The order was limited to the specific violations leading to the strike off, allowing the Registrar to take further legal actions for any other violations committed by the company. Finally, the Company Application No. 602/2020 was disposed of, with the provision for issuing a certified copy of the order upon completion of formalities.

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