AI Structured Summary
Not yet generated for this judgment
Judgment
Shyam Babu Gautam, Member Technical
This is a Company Appeal No. 53/MB/2022 filed under Section 252(1) of the Companies Act, 2013 (hereinafter called as ‘the Act’) filed by Abhinco Pharma Private Limited through Mr. Tukaram Raghu Shendage, Shareholder and Director seeking a direction to the Registrar of Companies, Pune (hereinafter called as ‘the ROC’), to restore the Company in the Register of Companies.
Brief averments of the Application are that the Company was incorporated on 03.01.2011, having its registered office at First Floor, Kale Complex, Dahigaon Chowk, Natepute Tal Malshiras, Dt. Solapur, Natepute Solapur-413109, in the State of Maharashtra. The Authorised Share Capital of the Company is Rs.1,00,000/- (Rupees One Lakh Only) divided into 10,000 number of Equity Shares of Rs.10/- (Rupees Ten each only) and Paid up Capital of the Company is Rs.1,00,000/- (Rupees One Lakh Only) divided into 10,000 number of Equity Shares of Rs.10/- (Rupees Ten each only). The main objectives of the Company are given in the Memorandum of Association.
The Appellant Company has failed to file its Financial Statements & Annual Return for the Financial Years 2018-19 to 2020-21. The Respondent has, therefore, initiated action under Section 248(1) of the Act for striking off the name of the Company from the Register of Companies and consequently the name of the Appellant Company was struck off from the Register of Companies. Further in pursuance to sub section (5) of Section 248 of the Companies Act, 2013 and as under Rule 9 of the Companies (removal of Names of Companies from the Register of Companies) Rules, 2016 had issued a Public Notice as in Form no. STK 7 as on 12.02.2022 and the same was placed on the website of the Ministry of Corporate Affairs, by the Registrar of Companies.
The reason given by the Company for non-filing of Returns is due to inadvertent delay and lack of communication gap between the board and the expertise and therefore the board could not produce the above said documents within stipulated time period. Therefore, the present petition is filed for restoration of the name of the Company in the Register of Companies.
The Registrar of Companies, Pune, who is the Respondent herein, has filed Counter Affidavit wherein the details of the Company such as date of incorporation, address of the registered office and period for non-filing of statutory returns for the financial years. While submitting the above facts the Registrar of Companies has stated that the sufficient opportunity was given to petitioner to comply with the provisions of Companies Act, 2013 by filing Annual Return and Financial Statement of Company after issuance of notice STK1 up to notice STK 7.
In response to this, the Appellant Company has submitted that the company is ready with all the outstanding statutory documents i.e. the financial statements & annual returns from the financial years from 2018-19, 2019-20 and 2020-21 along with the filing fees and the additional fee, as applicable on the date of actual filing.
Heard. Perused pleadings and documents filed in support of the contentions of both parties.
ORDER
Having satisfied with the reasons mentioned above, this Tribunal is of the opinion that it would be just and proper to order restoration of the name of the Company in the Register of Companies.
The Company shall file all the pending Financial Statements and Annual Returns with ROC as per the Act and Rules made thereunder besides filing an Affidavit stating that the Company was neither involved in money laundering activities during the demonetization period nor any unlawful activities during the relevant period.
Further, the Appellant Company is directed to pay the cost of Rs. 25,000/- per year (FYs 2018-19 to 2020-21) for which the Company has failed to file its Financial Statements & Annual Return, amounting to Rs. 75,000/-(Rupees Seventy-Five Thousand Only) to the Bharatkosh and submit the receipt along with the other documents to the ROC.
The RoC is directed to restore the Company in the Register of Companies. The Applicant is directed to place this Order with ROC within 30 days from the date of receipt of this Order.
Accordingly, the Company Appeal/53/MB/2022 is hereby disposed of.