TaxTMI 
TaxTMI 
2022 (4) TMI 1004
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....ny had prepared the `Financial Statements' regularly which was audited, but the same was not to be filed, in respect of the Financial Years (1) 2006-2007, (2) 2007-2008, (3) 2008-2009 (4) 2009-2010, (5) 2010-2011 (6) 2011-2012, (7) 2012-2013 (8) 2013-2014 (9) 2014-2015 (10) 2015-2016 (11) 2016-2017 (12) 2017-2018 (13) 2018-2019 and (14) 2019-2020 with the `Respondent'/`Registrar of Companies', Kolkata, owing to an acute financial crisis, lack of coordination and follow up with the Professional engaged for the same and lack of information about the prevailing regulations governing the requisite filings by the Company. 3. It is the stand of the `Appellant'/`Company' that it was carrying on the business, since its `incorporation' and the same being reflected in the `financial statements' of the Company. Moreover, when the `Appellant'/ `Company' approached another `Professional' for filing of the overdue documents, they came to know about the huge late filing charges and consequences for the non-filing of the `Annual Forms' with the Registrar of Companies' via `MCA portal'. But the Appellant / Company's name was struck off by the Respondent, before filing of any overdue documents. 4.....
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....ately preceding financial years and has not made any application within such period for obtaining the status of a dormant company [under section 455; or] etc., then he shall send a notice to the company and all the directors of the company, of his intention to remove the name of the company from the register of companies and requesting them to send their representations along with copies of the relevant documents, if any, within a period of thirty days from the date of the notice. 9. Section 248 (1) (6) of the Companies Act, 2013, envisages that the `Registrar', before passing an order under sub-section (5) shall satisfy himself that sufficient provision has been made for the realisation of all amount due to the company and for the payment or discharge of its liabilities and obligations by the Company within a reasonable time and, if necessary, obtain necessary undertakings from the managing director, director or other persons in charge of the management of the company: 10. Section 252 of the Companies Act, 2013, provides for preferring an `Appeal to Tribunal'. Section 252 (3) of the Companies Act, 2013, deals with the filing of an application before the `Tribunal' by the company....
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....was filed on 01.10.2018 with additional fee of Rs. 3,600/- for the delay caused. Hence, ROC notice dated 03.11.2018 to the company to file its statutory returns for financial year 2017-18 shows that the name of the company was still existing in the records of ROC even after the removal of name of the company. Section 252 (3) of Companies Act, 2013, reads as under:- "252(3) - If a company, or any member or creditor or workman thereof feels aggrieved by the Company having its name struck off from the register of companies, the Tribunal on an application made by the company, member, creditor or workman before the expiry of twenty years from the publication in the Official Gazette of the notice under sub-section (5) of Section 248 may, if satisfied that the Company was, at the time of its name being struck off, carrying on business or in operation or otherwise it is just that the name of the Company be restored to the register of companies, order the name of the company to be restored to the register of companies, and the Tribunal may, by the order, give such other directions and make such provisions as deemed just for placing the company and all other persons in the same position as....
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....k off, may file an application for restoration of company's name, if its name is not restored. Thus it would be just and equitable to restore the name of the company to even avoid further legal proceedings. 31.....xxxxxxxxxxx 32. From the above discussions and observations we have come to the conclusion that in the light of huge investment made by the company and above reasons it would be just that the name of the company is directed to be restored. The following orders/directions are passed:- (i) impugned order is quashed and set aside. The name of the Respondent No.2 company shall be restored to the Register of Companies subject to the following compliances: (ii) Appellants shall pay costs of Rs. 1 lac to the Register of Companies within 30 days. (iii) Within 30 days' of restoration of the company's name in the register maintained by the Registrar of Companies, the company will file all their annual returns and balance sheets due for the period ending 31.3.2014 to date. The company will also pay requisite charges/fee as well as late fee/charges as applicable. (iv) Inspite of present orders, ROC will be free to take any other steps, punitive or otherwise under the Comp....
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....interest and it is desirous of erecting a School and Bathroom Sanitation Facility for the under privileged community, located nearby, in the aforementioned land post the company gets revived. 20. Continuing further, the `Appellant' / `Company' had placed on record the audited Financial Statements for the Financial Year ending on 31.03.2018, 2019 and 2020. Moreover, in the said financial statements the company has `Current Liabilities' and `Tangible Asset' amounting to Rs. 9,51,500/-, a Cash and Cash Equivalent of Rs. 2,00,000/-, all these are reflected in the said documents. The copy of Financial Statements in respect of the years 2017-2018, 2018-2019 and 2019-2020 is annexed in the instant `Appeal Memorandum' as `Annexure - C'. 21. This `Tribunal' on a careful consideration of the contentions advanced on behalf of the Appellant and also taking note of the fact that the Appellant / Company although, prepared the Financial Statements and got the same audited, but could not file the same for the Financial Year beginning from 2006-2007 till 2019-2020 (vide paragraph 7.3 of the instant Comp App (AT) No. 51 of 2022), keeping in mind yet another prime fact that the Appellant / Company ....