TaxTMI 
TaxTMI 
2024 (8) TMI 478
X X X X Extracts X X X X
X X X X Extracts X X X X
....nt appeal has been instituted by Shree Balaji India Private Limited ("Appellant") impugning the order dated 28 December 2020 passed by the Ld. NCLT, Cuttack Bench in CP (Appeal) No. 149/CTB/2020. 2. The Appellant filed an appeal under Section 252(3) challenging the Registrar of Companies ("ROC") decision dated 25 August 2018 to strike off the Appellant from the register of companies, which was purportedly taken under Section 248(1)(c) of the Act. 3. The Appellant was in the business of screening and crushing iron ore in Odisha. In 2012-2013, the Departments of Mines & Geology, Government of Odisha imposed restrictions on setting up or continuing crusher units within 10km of existing Iron Ore Mineral Concessions if the company does not own....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ic regarding strike off the name of the said company. Finally after the expiry of the time mentioned in the above notice the Registrar struck off the name of aforesaid company from his register and published the same in Form No.STK-7 in the Official Gazette dated 25.08.2018 and on the publication of such Notice in the Official Gazette, the company stood dissolved on and from 27.07.2018. Heard. 6. However, the learned counsel for the appellant argued the appellant company be restored since it holds assets and is carrying on business activity. It is submitted as on 31.01.2021 the appellant had a bank balance of Rs.5,04,130.61 with ICICI Bank and in April, 2018 certain business transactions were carried out in its bank account. Apart from mai....
X X X X Extracts X X X X
X X X X Extracts X X X X
....es under the terms of a Rental Agreement dated 20 February 2020. The income derived by renting its equipment is duly reflected in the Appellant's balance sheet for FY 15-16, FY 16-17, FY 17-18 and FY 18-19. The Appellant has also entered into various agreements for the buying and selling of Iron Ore through registered agreements. 9. The Appellant has been made a party to certain litigation concerning office rent, while the suit has been decreed against the Appellant, the appellant has filed an application under Order 9 Rule 13 CPC seeking setting aside of the decree. The Appellant also has one employee, namely Mr Satya Narayan Mahkud. 10. The Appellant intends to carry out the business of stone crushing by using the same equipment to crus....
X X X X Extracts X X X X
X X X X Extracts X X X X
....aid 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 (Court V, New Delhi) as well as Registrar of Companies, NCT Delhi & Haryana is not sustainable in law." 14. In `Dashmesh Impex Pvt. Ltd. & Ors. Vs ROC: Company Appeal (AT)No.116/2021 this Tribunal held as follows: "5. After hearing the parties, going through the pleadings made on behalf of the parties and in view of the fact that the financial statements 2016-2017, 2017-2018, 2018-2019, 2019-2020 and Income Tax Return of the Appellant Company shows that the Appellant Company is having substantial movable as well as immovable assets. Therefore, it cannot be said that the Appella....