JDA Consultancy ServicesPrivate Limited vs Registrar Of Companies, Maharashtra Mumbai

This Court convened through video conferencing today.

This Company Petition is filed by JDA Consultancy Services Company Private Limited [CIN: U74140MH2003PTC139569], represented by its

Director Mr. Shyammkumar [DIN: 02264854], under section 252(3) of the Companies Act, 2013 praying for restoration of the name of the company

to the Register of Companies maintained by the Registrar of Companies, Mumbai.

The Petitioner submits that the company was incorporated on 12.03.2003 under the Companies Act, 1956 as a private company limited by shares

with the Registrar of Companies, Maharashtra, Mumbai. Its CIN is U74140MH2003PTC139569. The Petitioner company has been incorporated to

carry on the following objects:

“To carry on in India or abroad the business to act as representative, arbitrator, conciliator, advisor and/or consultants, on all matters

and problems relating to software, information, technology, financial, business, management, corporate management, professional,

personal, legal, commercial, industrial, production, engineering, personnel, marketing, advertising, publicity, etc.â€​

The grievance of the Petitioner Company is that the Respondent Registrar of Companies, Maharashtra, Mumbai struck off the name of the

Petitioner Company from the Register of Companies maintained by them by issuing notice in Form STK-1 and STK-5 dated 07.09.2019 under section

248(4)(1) for removal of the name of the Company from the Register of Companies under section 248(1) of the Companies Act, 2013 and rule 3 of

the Companies (Removal of Names of Companies from the Register of Companies) Rules, 2016 due to defaults in statutory compliances, namely,

failure to file Financial Statements and Annual Returns for FinancialYear 2016-17 to 2018-2019 and for not carrying on any business or operation for a

period of immediately preceding two years and neither made any application within such period for obtaining the status of „Dormant Company’

under section 455 of the Companies Act, 2013.

Consequently, the Respondent ROC initiated the process under section 248(5) of the Companies Act, 2013 by issuing Public Notice in Form STK-7

Public Notice dated 08.11.2019 and informed the Petitioner Company that the name of the Company has been struck off from the Register of

Companies and the Company has been dissolved.

The Petitioner Company further submits that due to striking off the name of the Petitioner Company, the Director Identification Numbers (DIN) of

the directors of the Company have been deactivated.

The Petitioner Company submits that the Company has been functioning since its incorporation. The Petitioner Company further submits that the

Company has failed to file its Financial Statements and Annual Returns for Financial Year 2016-17 to 2018-19 due to inadvertence.

The Petitioner Company states that the Company is holding a land parcel admeasuring 12.03 acres in Okkiam Thoraipakkam, Chennai valued Rs.

60 crores. The same was in the hands of Anandram Developers Private Limited and some other Companies. However, the Anandram Developers

Private Limited has undergone Liquidation vide order dated 11.02.2020 by NCLT Chennai Benchand the Petitioner Company is being the Financial

Creditor filed its claim with the Liquidator. However, if the claims of the Petitioner Company are accepted in the ongoing proceedings of Liquidation,

substantial rent will accrue to the Petitioner Company.

The Petitioner Company has enclosed the Audited Accounts for the Financial Years 2016-17 to 2018-19. The Petitioner Company has also

enclosed copies of the Acknowledgement of Income-Tax Returns filed with the Income-Tax Authorities for the Assessment Years 2017-18, 2018-19

and 2019-20.

On perusal of the report of the Respondent, it appears that the name of the company was struck off due to failure on the part of the company to

file the statutory documents for Financial Year 2016-17 to 2018-19, and also for not carrying on the business.

Upon perusal of the Financial Statements of the Company, it is observed that the Petitioner Company has not generated Revenue. However, the

Petitioner Company has incurred Total Expenses of Rs.8,52,48,813.00, has total Non-Current Assets of Rs.46,00,05,256.00 and total Current Assets

of Rs.2,73,48,59,541.00 for F.Y. 2017-18. Further, the Petitioner Company has incurred Total Expenses of Rs.81,61,702.00, has total Non-Current

Assets of Rs.46,43,09,489.00 and total Current Assets of Rs.2,22,68,04,979.00 for F.Y. 2018-19. Further it is observed that the Petitioner Company

has Short-Term Borrowings of Rs.1,81,03,53,915.00 and Rs.1,79,02,29,715.00 for F.Y. 2017-18 and 2018-19 respectively.

On hearing the submissions of the Learned Authorised Representative appearing on behalf of Petitioner andon perusal of the Report of Registrar

of Companies, Maharashtra, Mumbai, the Audited Accounts submitted by the Petitioner Company and other documents placed on record, the Bench

observes that the Petitioner Company has not generated Revenues from operations as reflected in its Books of Accounts. However, the Petitioner

Company has Non-Current Assets, Currents Assets and Short-Term Liabilities in its Books of Accounts. Therefore, it would be just, equitable and in

the interest of justice to provide an opportunity to the company to rectify its defaults and continue the business.

Given the above facts and circumstances, we are satisfied that the prayer sought by the Petitioner company deserves to be allowed.

Accordingly,Company Petition bearing CPNo.1225/252(3)/MB- IV/2020filed by the Petitioner,JDA Consultancy ServicesCompany Private

Limited [CIN: U74140MH2003PTC139569], represented by its Director Mr. Shyammkumar [DIN: 02264854], under section 252(3) of the Companies

Act, 2013, seeking restoration of the Company’s name in the Register of Companies maintained by the Registrar of Companies, Maharashtra,

Mumbai is allowed on the following terms: -

(a) The Respondent Registrar of Companies, Maharashtra, Mumbai, is directed to restore the name of the Petitioner Company,viz., JDA Consultancy

ServicesCompany Private Limited [CIN: U74140MH2003PTC139569]to the Register of Companies subject to payment of a sum of Rs.30,000/-

(Rupees thirty thousand only)as cost payable to the account of “Pay and Accounts Officer, Ministry of Corporate Affairs, Mumbaiâ€within thirty

days from the date of receipt of a copy of this Order; and

(b) Upon such restoration, the Petitioner Companyshall file all its pending financial statements and Annual Returns with all the applicable fees and late

fees with the Respondent Registrar of Companies within thirty days from the date on which the name of the Company is restored to the Register;

failing which, this order will stand vacated automatically.

Upon restoration of the name of the Petitioner Company to the Register of Companies after complying with the terms mentioned above, the

Registrar of Companies, Maharashtra, Mumbai, shall issue appropriate communications to the bank authorities for defreezing the accounts of the

Petitioner Company.