2022 (12) TMI 317

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....Appellant through its Shareholder Sh. Bhajan Lal Kamboj, being aggrieved and dissatisfied by the order dated 31.12.2020 passed by the National Company Law Tribunal (New Delhi, Special Bench, Court-II) in Appeal 341/252/(ND)/2020 whereby and whereunder appeal filed by the Appellant Company for restoration of the name of the Appellant Company in the Register maintained by the Registrar of Companies (RoC), NCT of Delhi and Haryana was dismissed by the Tribunal. 2. The facts giving rise to this Appeal are as follows: i) The Appellant Company was incorporated under the Companies Act, 1956 on 09.07.1990. The main objects of the Company are as follows: * To manufacture, assemble, fabricate, buy, sell, export, import, hire, alter, trade or othe....

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....ccountants and the Company is following Annual System of Accounting. The Balance Sheets of the Company are prepared right from its incorporation. The Audited Balance Sheet for the year ended 31.03.2016, 31.03.2017, 31.03.2018 & 31.03.2019 and the Annual Returns of the Appellant Company have been filed regularly by the part time junior accountant/part time accountant of the Appellant Company, who seeks the help of Statutory Auditor of the appellant company for filing it with the ROC. iv) The Junior Accountant/ part Time Accountant of the Company left the job during the month of January, 2016 and left Delhi permanently without informing the Directors about the filing of balance sheet and annual returns. Due to the absence of Accountant, the ....

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....ter obtaining necessary undertakings from the managing directors, directors or form any other person in charge for the management, if necessary, before passing any such order of dissolution, however, neither the company nor the directors of the Appellant Company were in receipt of any prior information before publication of such notice of dissolution of the Company in the official gazette and it was to the utmost shock of the Company that Respondent No. 1 failed in its statutory duty to make sufficient provision for realization of amount due to the Appellant Company and payment or otherwise discharge of liabilities of the Appellant Company. Further submitted that while passing the impugned order, the Tribunal failed to consider the fact tha....

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....shows that the Appellant Company is having substantial movable as well as immovable assets. Therefore, it cannot be said that the Appellant Company is not carrying on any business or operations. Hence, we are of the view that the order passed by the NCLT, New Delhi as well as RoC, NCT Delhi & Haryana is not sustainable in law. 6. In view of the aforenoted, we set aside the impugned order dated 31.12.2020 passed by the National Company Law Tribunal (New Delhi, Special Bench, Court-II) in Appeal 341/252/(ND)/2020. The name of the Appellant Company be restored to the Register of Companies subject to the following compliances. i) Appellant shall pay costs of Rs. 50,000/- (Rupees Fifty Thousand) to the Registrar of Companies, NCT Delhi & Hary....