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The company failed to file financial statements and annual returns for five financial years from 2014 to 2018. Despite having assets worth Rs. 3 crores as of 2008, the company could not recover the amount from another entity if its name was not restored. Considering the medical history of one director and lack of operations during 2014-2019, the NCLAT set aside the NCLT order and restored the company's name in the Register of Companies, subject to compliance fulfillment. No prejudice would be caused to anyone by restoring the company's name.
The company failed to file financial statements and annual returns for five financial years from 2014 to 2018. Despite having assets worth Rs. 3 crores as of 2008, the company could not recover the amount from another entity if its name was not restored. Considering the medical history of one director and lack of operations during 2014-2019, the NCLAT set aside the NCLT order and restored the company's name in the Register of Companies, subject to compliance fulfillment. No prejudice would be caused to anyone by restoring the company's name.
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