TaxTMI 
TaxTMI 
2022 (1) TMI 1324
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....nsel Mr. Pratyaksh Gupta, Jr. Standing Counsel, for R-2 JUDGMENT Justice Anant Bijay Singh; The present Appeal under Section 421 of the Companies Act, 2013, has been filed by the Appellants being aggrieved and dissatisfied by the order dated 14.10.2021 passed by the National Company Law Tribunal (New Delhi Bench-V) in Appeal 76/252/ND/2021whereby and whereunder appeal filed by the Appellant Company for restoration of the name of the 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 No. 1, namely NCSC Healthcare Private Limited (CIN: U85100DL2012PTC229593) is a Company inc....
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....t the Appellant company has also made investment worth INR 18,57,00,000/- in the shares of the other company(ies) and the same can be traced from the audited financials for the financial year ending 31st March, 2017. The Appellant company has also made allotment of 4,90,000 equity shares of INR 10/- each at a premium of INR 990/- each in the year 2012, but the same was not filed and updated with the Respondent No. 1 due to lack of professional guidance. iv) Being aggrieved the Appellant company filed Appeal against the Notification dated 07.06.2017 before the Tribunal. The Respondent No. 1 in its reply dated 16.04.2021 to the Appeal stated that it has issued notice in the form STK-1 in the month of March, 2017 intimating the Compan....
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....nal did not consider the facts correctly and have not paid heed to the facts that in the financial year 2014-15, the Company has generated revenue from operation amounting to INR 3,04,000/- and also holds an investment of INR 18,57,00,000/- in other entities shares. 4. On the other hand, the Respondent No. 1 / Registrar of Companies in his reply stated that as per available records on MCA 21 portal, details of signatories associated with the Appellant Company were found namely i) Amarjit Nayak and ii) Sumit Shriwastav. The Appellant company has not filed Annual Return and Balance sheet since its date of incorporation. Moreover, no subsequent documents had been filed by the company with this office to obtain the status of a "Dormant Compa....
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....py of share certificates showing the investments made by the Appellant No. 1 Company. iii. Copy of Statement of Profit & Loss reflecting Revenue from Operations is NIL for the Financial Years ending 31st March, 2019. Copy of the Balance Sheet as on 31st March, 2019 reflecting current assets including current investments, inventories, Cash and Cash Equivalents and other current assets and liabilities including other current liabilities. In view of the above, 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 National Company Law Tribunal (New Delhi Bench-V) as well as Registrar of Companies, NCT Delhi & Haryana is not sustainable in la....