Company appeal successful, name restored to Register with conditions.

The appeal was allowed, setting aside the impugned order and the notice of striking off and dissolution. The appellant company's name was ordered to be restored to the Register of Companies, subject to fulfilling specified conditions, including filing outstanding documents, paying costs, and complying with statutory requirements. The Tribunal emphasized the need for the appellant to ensure strict compliance with statutory obligations in the future.

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Issues Involved:
1. Permission to file additional documents.
2. Restoration of the company's name to the Register of Companies.
3. Compliance with statutory requirements and payment of costs.

Issue-Wise Detailed Analysis:

1. Permission to File Additional Documents:
The petitioner sought permission to file Income Tax Returns for the assessment years 2017-18, 2018-19, 2019-20, and 2020-21, which were not previously filed before the Tribunal. The Tribunal allowed this request, emphasizing that no prejudice would be caused to the respondent and that the additional documents were necessary to prove the petitioner's case. This decision was made in the interest of substantial justice.

2. Restoration of the Company's Name to the Register of Companies:
The appellant challenged the impugned order dated 04.01.2021, passed by the National Company Law Tribunal (NCLT), New Delhi Bench, which dismissed the appeal for restoration of the company's name. The NCLT had observed that the appellant company failed to demonstrate it was in operation or carrying out significant business when its name was struck off. The Tribunal referred to Section 252(3) of the Companies Act, 2013, which allows for the restoration of a company's name if it is just and fair, even if the company was not in operation at the time of striking off.

The appellant argued that it was a compliant company, but due to unforeseen circumstances, including the deaths of key directors and inadvertence by the consultant, statutory filings were missed. The appellant also highlighted ongoing legal proceedings to recover debts amounting to Rs.18,12,500/- from its debtors, which would enable it to further its business activities.

The Tribunal considered several precedents, including decisions from the Delhi High Court and the Madras High Court, which emphasized that restoration should be ordered if it is just and fair, especially when litigation is pending by or against the company. The Tribunal also noted that the right to seek restoration is not extinguished as long as 20 years have not lapsed.

3. Compliance with Statutory Requirements and Payment of Costs:
The Tribunal ordered the restoration of the appellant company's name to the Register of Companies, subject to the filing of all outstanding statutory documents and completion of all statutory formalities, including the payment of any late fees or other charges. Additionally, the appellant was directed to pay a cost of Rs.60,000/- to the Prime Minister Relief Fund within two weeks and produce the receipt for verification.

The Tribunal emphasized that the appellant company must act with great care, caution, and utmost circumspection regarding statutory compliances in the future.

Result:
The appeal was allowed, and the impugned order dated 04.01.2021 was set aside. The notice of striking off and dissolution in Form No. STK-7 dated 29.10.2019 was also set aside. The restoration of the appellant company's name was ordered, subject to compliance with the specified conditions.

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