2021 (1) TMI 656

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....3 (hereinafter referred to as the 'Act') filed by Mr. Jagadeeswara Reddy Kondareddy, who is one of the  Directors and Shareholders of M/S. Lextron Infotech Private Limited (hereinafter referred to as the 'Company') inter-alia, seeking direction to the Registrar of Companies, Hyderabad (the 'RoC') to restore the name of the Company in the Register of Companies maintained by the Registrar of Companies. 2.  The averments made in the Company Application are briefly described hereunder:- a. It is the case of the Applicant that the Company did not file its Annual Returns and Financial Statements for the Financial Years from 2013-14 to 2017-18. It is the case of the Applicant that the Company failed to....

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....(3) read with Section 433 of the Act. h.  The Applicant stated that there are no charges created against the Company and the Company has not availed any loans from Public Financial Institutions and bankers. i. The Applicant stated that there are no investigation proceedings pending against the Company and its directors under Section 206 to 212 of the Companies Act, 2013.  j. The Applicant stated that there are no petitions filed either against the Company or by the Company under the Insolvency and Bankruptcy Code, 2016 k. The Applicant stated that there is no petition filed by the Company under Section 230 to 232 of the Companies Act, 2013 for any compromise, arrangement and or amalgamation. ....

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.... in the Gazette. ii.  The Respondent stated that the Applicant has not filed any Balance Sheet or Annual Returns with the Respondent since 31.03.2013. However, copies of the Audited Balance Sheet as at 31.03.2014 to 31.03.2018 are enclosed along with the petition. As per the Account as at 31.03.2014 to 31.03.2018 the Applicant's company "Revenue from Operations" is "zero". Thus, the Applicant did not carry any business before its strike off and hence the Applicant needs to state that purpose will be served by restoration of the company. iii.  The Respondent stated that a copy of the Audited Balance Sheet as at 31.03.2019 and ITR acknowledgements for the Assessment Years 2012-13, 2013-14, 2014-15, 2018-19 and ....

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....on 31^st March 2018 and Financial Statements for the year ending 31^st March, 2018 of the Company. The Company is having Total Assets of Rs. 1,70,000/-   And Revenue from Operations is 'Nil'. 7.  After hearing the Counsel for Applicant and after perusal of material documents on record, the report of the RoC, Hyderabad and after going through the provisions of Section 252 (3) of the Companies Act, 2013, this Tribunal is of the view that the Company was in existence and it is a going concern and name of the Company to be restored in the Register of Companies as maintained by RoC. ORDER 8. By exercising the powers conferred on this Tribunal under Section 252 of the Companies Act, 2013, and Rule 87-A of NCLT (Ame....