Amsi Technologies Private Limited vs Registrar Of Companies

S. Vijayaraghavan, J

This is a Company Application No. 897/(252)/2019 filed under Section 252(3) of the Companies Act, 2013 (hereinafter called as 'the Act') represented by Shri. Arun Prasath, Shareholder of M/s. AMSI Technologies Private Limited (hereinafter called as 'the Company') seeking a direction to the Registrar of Companies, Chennai (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 20.03.2014, having its registered office at No. 10, Khuthubi Complex, 1st Avenue Main Road, Vettuvankeni, Chennai-600115, in the State of Tamil Nadu. 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 Applicant Company has failed to file its Annual Returns & Balance Sheets since incorporation. 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 Petitioner Company was struck off from the Register of Companies vide a notice and the same was published in the Gazette of India dated 15th 21st July, 2017 at page no. 14602 under S. No. 2522.

The reason given by the Company for non-filing of Returns is that the Company has inadvertently omitted to file the required annual returns with the Registrar of Companies and the same was neither wilful nor wanton. The Company is still carrying on its business and its activities and therefore the present Application is filed for restoration of the name of the Company in the Register of Companies.

The Registrar of Companies, Chennai, 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 its main objects as per the Memorandum of Association are mentioned. While submitting the above facts the Registrar of Companies has stated that the Applicant Company may be directed to prove that it was carrying on business or was in operation and also be directed to file all pending Financial Statements and Annual Returns in case restoration is granted. It has further been submitted that the Company may be directed to give an undertaking stating that the Company was neither involved in money laundering activities during the demonetization period nor any unlawful activities during the relevant period.

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 Applicant Company is directed to pay the cost of Rs. 20,000/- (Rupees Twenty Thousand Only) to the ROC while submitting the documents.

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 Application No. 897/(252)/2019 is hereby disposed of.