2020 (11) TMI 161

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....ducation Institute Private Limited struck off by the Registrar of Companies, Uttar Pradesh U/s 248 of the Companies Act, 2013 read with Companies (Removal of Names of Companies from the Register of Companies) Rules, 2016, from the Register of Companies maintained by the Registrar of Companies, Uttar Pradesh. 2. Facts of the appeal are stated as under: i. The Appellant Company KPS Hostel & Education Institute Private Limited was originally incorporated on 22.02.2011 with the Registrar of Companies, Uttar Pradesh having CIN U80904UP2011PTC043663. ii. The Appellant Company is involved to carry on building maintaining, raising, acquiring, buying other educational centres and dealing in all types of instruments, appliances a....

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....ing stator documents i.e. Balance Sheet and Annual Return since 2016. 4. The Income Tax Authorities in its representation mentioned that during the on spot verification it was found out that there was no such company found existing at the given registered address. 5. The Appellant has placed before us the audited balance sheet for the financial year ending March, 2017 to March, 2019, in which the last audited balance sheet as on year ended 31.03.2019 reflects that though revenue from operation as nil but the company have assets(fixed and current assets) amounting to Rs. 2,704,138/- and also have cash and cash equivalents of Rs. 49,767/- for running the business showing it to be an ongoing concern. As per the above details, the Appella....

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....thorities can impose penalty for the same in accordance with the provisions of Companies Act. 8. This Tribunal has examined the relevant provision applicable for restoration of the name of the company as provided in Section 252 of the Companies Act 2013 and as per the facts and circumstances of the case, it will be in the interest of the Company, its Shareholders and Creditors, the name of the Company be ordered to be restored by this Bench while exercising its jurisdiction U/s 252 of the Companies Act, 2013 read with Rules made thereunder. 9. The provisions pertaining to restoration of the name of the company has been provided in Section 252 of the Companies Act 2013 which includes that, if it is just and equitable to restore the nam....