Restoration of struck-off company accepted where business activity and balance-sheet evidence showed going-concern status.
A struck-off company may be restored to the register where the Tribunal is satisfied, on the material produced, that it was carrying on business at the relevant time or that restoration is otherwise just under Section 252(3) of the Companies Act, 2013. The Tribunal considered incorporation details, continuing business activity, audited financial statements and assets shown in the latest balance sheet, and treated the Registrar's objection based on defaulted filings and strike-off proceedings as insufficient to deny relief on the record. Restoration was allowed, with directions for filing pending documents, payment of costs and compliance as conditions for effective revival.
Issues: Whether the name of the company struck off from the register of companies was liable to be restored under Section 252(3) of the Companies Act, 2013 on the basis that it was carrying on business or that it was otherwise just to restore it.
Analysis: The application was founded on material showing incorporation, continuing business activity, audited financial statements, and assets reflected in the latest balance sheet. The Tribunal also considered the Registrar's objection that filings had been defaulted and that the company had been identified for strike off under Section 248(1) of the Companies Act, 2013. On the record, the Tribunal found that the company was in existence and functioning as a going concern, and that the circumstances justified restoration under Section 252(3). The directions for filing pending documents, payment of costs, and compliance before restoration were treated as consequential conditions attached to the relief.
Conclusion: Restoration of the company's name was allowed and the strike-off action was set aside, subject to compliance with the directions issued by the Tribunal.
Final Conclusion: The company was ordered to be revived in the register of companies, with ancillary compliance requirements and costs imposed as conditions for effective restoration.
Ratio Decidendi: A struck-off company may be restored when the Tribunal is satisfied, on the materials placed, that it was carrying on business or operation at the relevant time or that restoration is otherwise just.
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