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Judgment
As can be seen from the contents of the appeal preferred on behalf of the appellant, the appellant herein is engaged in Real Estate business. Its name was striked off from the register of companies as it did not satisfy the statutory requirements viz. it did not file the financial statements/annual returns/other statutory documents including balance sheets for the year 2016-17, 2017-18 & 2018-19 before the Registrar of Companies. Nevertheless, Learned Counsel for the appellant submitted that as on crucial date i.e. 29.10.2019, the company was operational and was carrying the business. He further submitted that the company is having movable and immovable assets. He could also draw our attention to the income tax return for the year 2019-20. Though, Income Tax paid for the year is NIL, Learned Counsel for the appellant submitted that the company was running into losses. In any case, Learned Counsel for the RoC categorically submitted that she has no objection to the prayer made in the appeal provided that the appellant comply with the extant rules, regulations and statutory provisions of the Companies Act, 2013. In view of the fact, that the appellant company was operational and was doing the business and the fact that the Registrar of Companies has not opposed the appeal preferred by the appellant, the prayers made by the appellant in the appeal is allowed. The appellant-company is directed to be restored to register of companies subject to condition that it will pay the required fee/additional fee and submit the annual return, financial statements including balance sheets for the relevant period and would pay the penalty in terms of the provision of Companies Act, 2013 and other extant rules and instructions. The appellant-company shall also file all statutory documents required to be filed with RoC in terms of the Companies Act, 2013. The appellant-company shall pay the costs of Rs. 50,000/- to be deposited in Prime Minister Relief Fund. The direction shall be complied within thirty days. Let a copy of this order be also served upon the office of Registrar of Companies.