2019 (10) TMI 1398

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....hese petitions are filed under section 463(2) of the Companies Act to relieve the petitioners from disqualification under Section 164(2)(a) of the Companies Act. 2. I heard the learned counsel for the petitioners and the learned Standing Counsel for the Registrar of Companies. 3. The learned counsel for the petitioners submitted that the Company had been struck off from the Registrar of Comp....

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.... therefore, the financial statements and the returns cannot be accepted from the petitioners. The learned counsel further submitted that they apprehend that they would be prosecuted for non-filing of the financial statements and non-filing of the annual returns under section 137(3) and 167(2) of the Companies Act and that therefore, the petitioners should be relieved from disqualification under se....

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....section 463(2) of the Companies Act, 2013, is maintainable in respect of the order of disqualification. In the decision referred to by the learned Standing Counsel appearing for the Registrar of Companies, this Court considered the law on the subject and concluded that such a petition is not maintainable because the disqualification has already come into operation under the specific statutory prov....