TaxTMI 
TaxTMI 
2021 (1) TMI 653
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....yderabad to restore the name of the Company in the Register of Companies and to pass such order as deemed fit in the circumstances of the case. 2. The averments made in the Company Application are briefly described hereunder:- (1) The 1st Respondent Company was incorporated under the Companies Act, 1956 on 14.11.1995 with Registrar of Companies, Telangana having its registered office at the address shown in the cause title of this application. The Company is in the Business of manufacture, import, export, loan license, buy, sell, research, invent, process, improve, develop, Screen, test or otherwise deal in India in all kinds of chemical compound, etc and allied activities. (2) The Authorized Share Capital of t....
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....ompanies Act, 2013 in the month of September, 2017 prior to conducting the forth coming Annual General Meeting as in the MCA Portal (www.mca.gov.in). There is no restriction on filing of any document with additional fee at any point of time. Other than the said reason, there was no intentional delay on the part of the Company and its Directors in complying with the provisions of the Companies Act, 2013. (5) The Applicants aver that the 1st Respondent Company had its operations from the date of its incorporation and is conducting the Meetings of Board of Directors as well as General Meetings regularly in Compliance with the provisions of the Companies Act, 1956 as well as provisions of Companies Act, 2013 whichever is in force at th....
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....fect the office of Directors shall become vacant under Section 167(1)(a) of the Companies Act, 2013. (10) It is further averred that the Ministry of Corporate Affairs issued a General Circular vide No. 12/2020, dated 30.03.2020 by introducing a scheme called (Companies Fresh Start Scheme, 2020) to enable the Companies to file the returns till 30.09.2020 without higher additional fee an account any delay. The company would utilize the benefit if the orders passed by this Tribunal for restoring the Company. (11) The Applicants further aver that the 1st Respondent Company shall be able to complete its filing of pending Annual Returns and Financial Statements, upon granting of the prayers stated in this application, and when t....
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....nally the Company was struck off and STK-7 notice dated 17.10.2019 was also published in the gazette. B. The 2nd Respondent states that the Applicants has not filed any Balance Sheet or Annual returns with the Respondent since 2016-2017. However, copies of the audited balance sheet as at 31.03.2017 to 31.03.2019 is enclosed along with petition. Section 252 (3) stipulates that "Section 252(3): If a Company, or any member or creditor or workman thereof feels aggrieved by the company having its name struck off from the register of companies, the Tribunal on an application made by the company, member, creditor or workman before the expiry of twenty years from the publication in the Official Gazette of the notice under sub-s....
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.... of the view that the Company was in existence and it is a going concern and name of Company to be restored in the Register of Companies as maintained by RoC. 7. By exercising the powers conferred on this Tribunal under Section 252 of the Companies Act, 2013, and Rule 87-A of NCLT (Amendment) rules 2017, R/w NCLT Rules, 2016, the Company application bearing CA No. 119/252/HDB/2020 is disposed of with the following directions: 1) The Registrar of Companies, the 2nd Respondent herein, is ordered to restore the original status of the Applicant/1st Respondent Company as if the name of the company has not been struck off from the Register of Companies and take all consequential actions like change of company's status from 'st....