2022 (10) TMI 642

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....f Companies (RoC), Vijayawada for the State of Andhra Pradesh. 2. The Company was incorporated in July, 2017 under the Companies Act, 2013 in the erstwhile State of Andhra Pradesh. The Registered Office of the Company is situated at Nellore, Andhra Pradesh-524401. Applicant/Promoter Cum Shareholder of the Company/Respondent No. 1 has filed this Application. 3. It is stated by the Applicant that the Authorised Share Capital of the Company is Rs. 2,00,000/- (Rupees Two Lakhs only) divided into 20,000 each equity share @ Rs. l0/- Each. The Issued, Subscribed and Paid-up Share capital of the Company is Rs. 2,00,000/- (Rupees Two Lakh only) divided into 20,000 equity shares and each share @Rs. 10/-. 4. The main objects of the Company are to c....

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.... Profit and Loss for the financial years 2017-2018, 2018-2019, 2019-2020 & 2020-2021 in order to prove that the Company is in existence and running. 8. The Applicant has submitted Affidavit stating that the Company has not deposited or received any cash during the period of demonetization and submitted bank statement from 01.10.2019 to 30.06.2022. 9. The Applicant requested that the Directors and all other persons may be ordered to be placed in the same position as nearly as possible as they were prior to the name of the Company being struck off from the Register of Companies. 10. The RoC, Andhra Pradesh, Vijayawada the Respondent herein, has filed a report vide Report No. ROCV/Reports/106194/Sec252/AMR/2022/1877, dated 05.09.2022, where....

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.... a declaration from Directors of the Company regarding deposits of cash in bank during the demonetization period. The RoC sought this Tribunal to direct the applicant to file all pending Financial Statements and Annual Returns and direct the Applicant to file a declaration from directors of the Company regarding deposits of cash in banks during the demonetization period and to pass orders imposing costs. 11. I perused the records. The material available on record indicates that the failure of the Company to furnish the statutory returns with the RoC was not intentional. Apparently the Company has been carrying on its operations as the financial statements would indicate. Unless the Company's name is restored, it will prejudicially affe....