In the Matter of Companies Act, 1956 (6) and in the matter of Indian Gasohol Ltd. vs The Registrar of Companies

S. Samvatsar, J.

Heard counsel for the petitioner.

This company petition is filed by the petitioner company u/s 560 (6) of the Companies Act, 1956 for restoration of the name of the company with the Registrar of Companies.

Notice of this petition was served upon the Registrar of Companies but no one has turned up on its behalf to oppose the petition. Hence, the petition is heard.

Petitioner company was registered under the Companies Act and incorporated on 27.7.1984. The registered office of the petitioner company is situate at LGF-5, Parasmani Mall, Jayendraganj, Gwalior. The authorized capital of the company is Rs..2,50,00,000/- divided into 25,00,000/- equity shares of Rs. 10/- each. The company was dealing in various chemicals, pharmaceutical and agricultural products as per the object of the memorandum of association. The petitioner company was struck off from the register vide order dated 28.1.2008 (Annexure P/2) on the ground that said company has become defunct.

Subsequently, an application was filed by the petitioner company on 24.4.2009 for restoration of its name to the Registrar of Companies, Madhya Pradesh. The Registrar of Companies, vide letter dated 12.5.2009 (Annexure P/4) had advised the present petitioner to approach this Court. Hence, this petition is filed by the petitioner company for restoration of its registration.

Section 560(6) of the Companies Act reads as under:

If a company, or any member or creditor thereof, feels aggrieved by the company having been struck off the register, the Tribunal, on an application made by the Company Member or Creditor before the expiry of Twenty years from the publication in the official Gazette of the notice aforesaid, may, if satisfied that the company was at the time of the striking off, carrying on business or in operation or otherwise, that it is just that the company be resorted to the register, order the name of the company be restored to the register, and the Tribunal may by the order, give such direction and make such provisions as seem just for placing the company and all other persons in the same position as nearly as may be as if the name of the company had not been struck off.

As per the aforesaid provision, thus, as per the said provision, even after striking off the name of the company by the Registrar of Companies, the company can make an application within twenty years from the date of publication of notice in the official gazette about striking off the name of the company and if such application is filed to the court, the court may direct restoration of the name of the company.

This Court in the case of Bhogilal Chimanlal vs. Registrar, Joint Stock Companies, M.B. Gwalior, AIR 1954 MB 70 has held that the Court can order restoration of name of the company removed from the register, if it finds that it was, at the time of the order, doing business or was in operation or on the ground that it is just to do so.

In the present case, as per the averments made in the company petition, the petitioner company is doing business. Hence, it will be just to restore its name with the Registrar of Companies which will not cause any prejudice to anyone including the creditors or share holders. That apart, the application is filed within twenty years and there is no opposition by the Registrar of Companies in spite of service of notice.

Hence, I allow this petition and direct to restore the name of the company to the register of the Registrar of Companies.

Petition stands allowed.

Certified copy as per rules.