2021 (11) TMI 558

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....te Limited (The Company'/'Appellant Company') passed by the Respondent No. 1 vide notice No. ROC-DEL/248(5)/STK-7/4865 dated 8th August, 2018. Learned counsel for the Appellants represent that the Appellant Company was incorporated under the provisions of Companies Act, 1956 and has its registered office at Plot No. 14-19, Shop No. 278, IInd Floor, Commercial Complex, Satyam Tower, Paschim Vihar, New Delhi-110063. 2. The Company's main objects are to purchase acquire, take or lease or in any other such lawful manner, any land, buildings and structures and to develop and the same and dispose of or maintain the same and build township, markets, commercial complex with all or related conveniences thereon and to equip the same ....

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....Notice was duly served to the Income Tax Department, however, none appeared on behalf of the Income Tax Department, hence, this tribunal vide its order dated 15.09.2021 directed the appellants to furnish the undertaking with respect to pending dues of Income Tax Department. In compliance of that order, the Appellants has filed an affidavit and undertake to pay and settle all pending tax demands/dues or tax demands/dues to be arise, if any, to the Income Tax Department after restoring the name of company in the Register of Companies maintained by the Registrar of Companies, NCT of Delhi and Haryana. 5. We have considered the plea of the Appellants and the representation of RoC and perused the undertaking filed by the Appellants with respect....

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....le financial statements would neither be just nor equitable. As per several decisions of various Courts it should only be in exceptional circumstances that Courts should refuse restoration where the company has been struck off for its failure to file financial statements as that would be excessive or inappropriate penalty for that oversight. 7. Accordingly, the appeal is allowed subject to payment of cost of Rs. 20,000/- (Rupees Twenty Thousands Only) to the ROC, with which the appellant is registered for incurring the expenses for the restoration of the Appellant. The restoration of the Appellant Company's name in the Register will be subject to their filing all outstanding documents for the defaulting years as required by law and com....