TaxTMI 
TaxTMI 
2021 (11) TMI 954
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....anies Act, 2013 aggrieved against the order of strike off carried out by the respondent namely, the Registrar of Companies, Chennai under section 560(5) of the Companies Act, 1956. The present application has been filed by the applicant seeking thereof to restore the name of the company in the register maintained by the respondent/Registrar of Companies. 2. The company was incorporated on April 25, 1994 bearing CIN : U01409TN1994PTC027375 having its registered office at Shop No. 14, BBC Plaza, No. 178-180, North Usman Road, Chennai-600 017, Tamil Nadu. The main object of the company is to carry on the business of agricultural and horticultural activities, manufacture of aromatics of all kinds, solvent extractions, perfumery, cosmetics toil....
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....defunct company refers to an organization that has zero assets and zero liabilities and fails to begin a business within a year of its incorporation. But the petitioner's- company has subscribed its capital to the tune of Rs. 3,00,000 (rupees three lakhs only) and fully paid-up by the shareholders within a year. 6. Learned counsel for the applicant further submitted that at the time of striking off, the company had Rs. 31,53,948 as assets and liabilities and financial statements have been prepared up to March, 2008. Hence it cannot be a defunct company as treated by the respondent. 7. Learned counsel for the petitioner further submitted that the company had purchased an agricultural land property around 5.08 acre worth of Rs. 62,800 f....
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....nt/Registrar of Companies as well. The applicant is seeking restoration of its name in the register as maintained by the Registrar of Companies by relying up on the "just" ground as contemplated under section 252(3) of the Companies Act, 2013. It was submitted by learned counsel for the applicant that the company has no different viable opportunity in the agricultural field of power plant and under the present condition, the applicant wants to continue the same business as well as to establish the ownership of the property with the intent to save the assets of the company. The hon'ble High Court at Delhi while dealing with the "just ground" as envisaged under the Companies Act, in the matter of M. A. Panjwani v. Registrar of Companies [....
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....espondent, subject to the following directions namely : 11. The company shall : (i) The Registrar of Companies, Chennai is ordered to restore the original status of the applicant-company, viz., M/s. Fragrant Farms and Exports P. Ltd., as if the name of the company has not been struck off from the Register of Companies with resultant and consequential actions like changing the status of company from "strike off" to "active". (ii) The company shall within a period of 30 days from the restoration of the applicant-company's name in the register being maintained by the Registrar of Companies, the applicant/petitioner will file, inter alia, its annual returns and balance-sheets as well other compliances statutorily required to be made un....