2022 (4) TMI 265

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....ish Singh & Ms. Pushplata Singh, Advocates for R-2/RoC. For the Respondent No. 7: Ms. Adeeba Mujahid & Mr. Puneet Rai, Sr. Standing Counsel-IT Deptt., Advocates for R-7. For the Respondent No. 1, 3 & 5: Mr. Mansumyer Singh, Advocate for R1, 3 & 5. JUDGEMENT [ Per : Shreesha Merla, Member (T) ] 1. Aggrieved by the Order dated 21/10/2020 in CA - 599/2020 in 1196/252/ND/2018 as originally passed and as later modified vide Order dated 11/11/2020 in New CA-686/2020 in 1196/252/ND/2018 passed by the NCLT (National Company Law Tribunal, New Delhi, Court - III), 'M/s. Shubh Infratech Private Limited' preferred this Appeal on the main ground that the observations made in the Impugned Order against the Appellant Company, without puttin....

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....the name of the company in the Register of Companies subject to filing of all the pending annual returns and balance sheets. The company is directed to make the compliance with the provisions of the companies Act by filing the pending annual returns and balance sheets for the period w.e.f. 2014 onwards with the RoC within 4 weeks from the date of this order and the ROC shall restore the name of the company to the Register of Companies. A fine of Rs. 20,000/- is imposed on the company, which shall be reimbursed to the Office of the RoC for incurring the expenses for the restoration of the name of the company to the Register of Companies. The applicant company is directed to file an affidavit with the RoC declaring that during the period of d....

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....tter was heard and the Order was passed relying upon the following submissions of the Respondent Company:- That an amount of Rs. 5Crs./- has been paid to the Appellant as per the Joint Development Agreement. The land which is to be developed as per the JDA is in possession of 'Ahuja Company'. Possession of the flats have to be handed over to the Flat Buyers. 6. Learned Counsel for the Appellant submitted that as per Clause 7.1 of the JDA filed here, 'Ahuja Company' was to complete the development on the said land within a period of 48 months i.e., by 08/05/2018. Further, as per the said Clause, the Appellant was entitled to a sum of Rs. 15 Lakhs/- per month as damages for any delay. Clause 11 of the JDA enumera....