AI Structured Summary
Not yet generated for this judgment
Judgment
Counsels for both the sides are present. Counsel for the RoC has filed the report stating that the Applicant Company was incorporated on 20.07.1999 and the annual returns and balance sheets were filed till 31.03.2013. Thereafter for non-filing of the same, the name of the Applicant Company was struck off from the Register of Companies under Section 248 (5) of the Companies Act, 2013 on 15-21.07.2017.
Counsel for the Applicant Company has placed on record an order dated 24.01.2019 which was passed in an appeal filed by the Applicant Company. The appeal was dismissed and the conclusion drawn by the Assessing Officer was confirmed. Based on this, it has been submitted by Counsel for the Applicant that since the statutory liability is there and unless the name of the Applicant Company is ordered to be restored in the Register of Companies, the Applicant Company will not be in a position to make compliance with the order of the Income Tax Authorities for payment of the tax involved in the appeal. In view of it, the Application is allowed.
The RoC concerned is directed to restore the name of the Applicant Company to the Register of the Companies. The Applicant Company is directed to file all pending annual returns and balance sheets within the time period that may be granted by the Registrar of Companies concerned.
A fine of Rs. 20,000/- is imposed on the Applicant Company, which shall be reimbursed to the Office of the RoC concerned for incurring the expenses for restoration of the name of the Applicant Company to the Register of Companies.
The Applicant Company is also directed to file an affidavit before the RoC concerned declaring that during the period of demonetization, the accounts of the Applicant Company have not been used to deposit tainted money.
Accordingly, the Application stands disposed of.