Company restoration follows proof of substantial assets and continuing business activity despite striking off for non-filing.

A company struck off for non-filing of statutory returns was held restorable where the record showed substantial movable and immovable assets and continuing business activity. Sale deeds and audited balance sheets supported the conclusion that the company could not be treated as inactive or as having ceased operations. On those facts, the striking off was found unsustainable, and restoration to the Register of Companies was directed subject to compliance conditions, including payment of costs and filing of pending statutory documents.

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Issues: Whether the company's name, struck off from the register for non-filing of statutory returns, ought to be restored on the ground that the company possessed substantial assets and had not ceased business operations.

Analysis: The record showed sale deeds and audited balance sheets reflecting substantial movable and immovable assets in the company's name. On that basis, the company could not be treated as one that was not carrying on business or operations. The material placed before the Tribunal therefore supported restoration of the company's name in the register. The order of striking off was found unsustainable, and restoration was directed with compliance conditions, including payment of costs and filing of pending statutory documents.

Conclusion: The issue was decided in favour of the appellant, and the company's name was directed to be restored to the Register of Companies subject to compliance obligations.

Ratio Decidendi: A company cannot be treated as inactive and struck off where the record shows substantial assets and continuing business activity, and restoration is warranted when the striking off is found unsustainable on those facts.

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