2021 (1) TMI 274

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....st the order of striking off of the name of the company passed by the respondent under section 248(5) of the Act read with Rule 9 of Companies (Removal of Names of Companies from the Register of Companies) Rules, 2016 published on 29.10.2019 vide public notice no. ROC-DEL/248(1)/STK-7/6217 by Registrar of Companies, the respondent herein. 2.  The appellant is a private limited company incorporated on 30.04.1997, with name of V. C. Investment Private Limited under the provision of Companies Act, 1956 bearing CINU67120DL1997PTC086961.The company is limited by shares and has its registered office at A-1/ 55, Safdarjung Enclave, New Delhi -110029. The authorized share capital of the company is  Rs. 5,00,000/- divided into 50,000 eq....

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....nce 1,068,206.50 14,03,486.08 1,681,928.56 Other income 9,77,574 5,86,022 4,36,834 Profit / Loss 53,051.89-Profit 1,13,064.55 - Profit 3,43,213.50- Loss b)  The appellant company has filed income tax returns for the assessment year 2017-18, 2018-19, 2019-20, which reflects refunds to the tune of Rs. 68,660/-, Rs. 25,900/- and Rs. 23,650/-, respectively. c)  The copy of Bank Statement of the Account maintained with HDFC bank for the period of 01.04.2019 to 24.12.2019 has been annexed, which reflects various transactions and a closing balance of Rs. 10,39,554.03/- 6.  The public notice was published by the ROC-Delhi, at the website of Ministry of Corporate Affair....

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....ellants have preferred to prove with documents and records that the company was in operation and doing business during the period of striking off of the name of the company as a better remedy. 10.  It is further submitted by the Appellant that if the name of company is restored the company shall be able to continue the work and shall file all outstanding statutory documents and returns i.e., financial statement and annual returns along with filing fee. Also, it is manifestly established the Appellant Company is defunct or non-operational or dormant company within the meaning of Section 248 of the Companies Act, 2013. 11. The Registrar of Companies has stated that it has no objection if the name of the Company is restored on provi....

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....er. 15.  The Appellant have submitted sufficient evidence that it has been in operation during the period of striking off and therefore could not be termed as defunct company. Thus, taking into consideration the provisions of Section 252 of the Companies Act, 2013 which vests this Tribunal with a discretion where the Company, whose name has been struck off and such Company is able to demonstrate that there is a running business as on the date when the name was struck off and also keeping in consideration that it is just to do so, can restore the name of the Company in the Register and in the interest of all stakeholders, including the Appellant itself, who seeks restoration of the name of the Company in the register maintained by Re....