TaxTMI 
TaxTMI 
2022 (5) TMI 927
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....gana to restore the name of the Company in the Register of Companies and to pass such further orders as deemed necessary in the circumstances of the case. 2. The averments made in the Company Application dated 21.02.2022 are briefly stated hereunder: a) The Company YSK Infra Projects Limited (Hereinafter to be referred as Applicant Company) was a Partnership Firm registered under the Partnership Act, 1932 converted to Public Limited Company incorporated under the Companies Act, 1956 on 25/08/2008 vide CIN: U4540TG2008PLC060796 having its registered office at #6-3-852/2 & 3, Viswa Central, 6th Floor, Behind VIP Showroom, Near Lal Bunglow, Ameerpet, Hyderabad, Telangana-500016. b) The main objective of the said Applicant ....
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....t been in Commercial Operations since beginning and did not file Annual Returns and Financial Statements with the Respondent from 2013-2014, 2014-2015, 2015-2016, 2016-2017, 2017-2018, 2018-2019, 2019-2020 and 2020-2021 within the time prescribed under Section 92 and 137 of the Act. h) That none of the Creditors/Shareholders or other stakeholders of the said Company will be prejudiced if the name of the Company was restored in the Register of Companies, maintained by the Respondent. i) That it had bank account but the same was not operating and as such no abnormal amount was deposited during the before and after of the demonetization. j) That Financial Statements, Profit and Loss Statements for the Financial years....
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....y the statutory auditors in their reports on the financial statements pertaining to financial year 2016-2017. p) The Applicant Company had not filed I.T. Returns from 2013-2020 and filed returns for the year 2021 and undertook to file within 30 days upon the change in the status from strike off to active. q) The Applicant Company had enclosed the following documents giving justification/substantiating that the said Company had been operational which are as under: i. Copy of Certificate of Incorporation. ii. Copy of Memorandum of Association and Copy of Articles of Association of the Company. iii. Copy of Annual Reports for Financial year 2013-2014, 2014-2015, 2015-2016, 2016-2017, 2017-2018, 2018....
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....ched with the Petition had stated that the said Company has not filed I.T. Returns since 2013 to 2020. e) Hence the said Company may be directed to file the pending I.T. Returns. Therefore, the Applicant Company may be kept under strict proof of having done the business along with justification and supporting documents and shall undertake to file all statutory returns. 4. The Applicant Company in its memo dated 25.04.2022 stated that: a) It had not filed I.T. Returns since year 2013-2020, as the system of Income Tax was not opened and further produced balance sheet of financial year 2018-2019, bank statements, Tax Returns for the Financial year 2020-2021. 5. The Respondent in its Final report vide No. ROCH/LEGAL/SEC2....
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....er STK-5 notice dated 05.05.2017 was issued and the same was published in MCA Website and Official Gazette. b) The Applicant Company was struck off pursuant to STK-7 notice dated 21.07.2017 which was also published in the Official Gazette. c) Subsequently, this Company Application was filed. Thereafter the pursuant to observations made by the Respondent in its Earlier and Final Report, the said Applicant Company submitted the Audited Financial Statements and Annual Returns for all the defaulting periods to the Respondent, and undertake to file the Respondent had acknowledged the same in its Final report. ORDER 7. After hearing the Learned Counsel for the Applicant Company and after perusal of material document on rec....