TaxTMI 
TaxTMI 
TaxTMI 
2021 (5) TMI 681
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....ny under Section 248(2) of the New Act. 4. Admittedly, the Company is incorporated in the year 1963 under the Companies Act, 1956. The Authorized Share Capital of the Company is Rs. 25,00,000/- divided into 25,000 Equity Share of Rs. 100 and Issued, Subscribed and Paid-up Share Capital of the Company is Rs. 12,80,000/-divided into 12,800 Equity Shares of Rs. 100/-. 5. It is a matter of record that the Company was struck off in the year 2006 for not complying the filing of statutory return to the ROC. It is also submitted by the Appellant that the Respondent struck off the name of the Company on an Application made under Section 248(2) of the Companies Act, 2013. For the sake of brevity two lines of Para 5(d) is reproduced herein below: It is submitted that after extinguishing all its liabilities, by a special resolution in the General Meeting and approval of the regulatory body constituted or established under s special Act, if any, to the Registrar of Company, Gwalior for removing the name of the Company from the register of companies. 6. It is pertinent to mention herein that in the year when the Company is claimed to have struck off under Section 248(2) of the New Act canno....
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....annexed Exhibit R-2 of page no. 33 of his objection., which reflects the list of members holding the shares, debenture as on 13.06.1998. 12. It is further submitted by the learned lawyer of the Objector (group of shareholder) that the company has closed down all its business activities after 1995 and from last 25 years there is no business activity in the Company which is evident from the Master Date, available on the website of Ministry of Corporate Affairs. It is further submitted that the date of last annual general meeting and the date of last balance sheet are also not reflected, which clearly indicate that no such activity has taken place in the Company for last several years. Therefore, the substratum of the Company has disappeared, and for the object for which the company is incorporated has also substantially failed. 13. It is further submitted by the Objector that the Director-in-charge and the responsible person for the affairs of Company did not prepared and circulated the balance sheet of the Company after 1995 and violated the several provision of Companies Act, 1956, which is done with an intention to withhold crucial information from the shareholders and office of....
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....y the Company out of the funds contributed by its shareholders and therefore, the land is fraudulently mortgaged by the Director of the Company by making misstatement for securing funds for their personal use and benefit at the cost of shareholders of the company. It is further submitted by the learned lawyer of the Objector that the borrower company i.e. Global Polymer and Impex Co. Limited, its directors and the company have also filed a suit for declaration and permanent injunction before the Hon'ble viii Additional District Judge, Indore registered as COS No. 67A2015, seeking decree of permanent injunction against the Dena Bank and its assignee M/s. SME Asset Reconstruction Company Limited. The said suit substantiates the allegation of the instant objector that the Director of the Company without any authority misused the, highly valuable land of the company for personal benefit. It is further submitted that the affairs of the company have been mismanaged by its director for their personal benefit, the balance sheet of the company for the financial year ending 31.03.1995 onwards have purposely not prepared and supplied to the shareholders as statutorily required and therefo....
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.... be fixed by the Court, fails to do so; c) where the relief claimed is properly valued but the plaint is written upon paper insufficiently stamped, and the plaintiff on being required by the Court to supply the requisite stamp-paper within a time to be fixed by the Court, fails to do so;......... 19. On plain reading of above Order(s) and Rule(s) it is clear that the said Order VII Rule 13 is not attracted in any manner. However, the learned lawyer for the Appellant further submitted that the memo of appeal is maintainable under Order IX Rule 13 of the CPC. For the sake of convenience, the Order IX Rule 13 is also reproduced herein below: "Order IX Rule 13. Setting aside decree ex parte against the defendants- In any case, in which, a decree is passed ex parte against a defendant, he may apply to the court by which the decree was passed for an order to set aside; and if he satisfies the court that the summon was not duly served, or that he was prevented by any sufficient cause from appearing when the suit was called on for hearing, the court shall make an order setting aside the decree as against him upon such terms as to costs, payment into court or otherwise as it thinks f....