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Judgment
The erstwhile director of Major Travels Private Limited bearing CIN NO: U74120DL2008PTC175037 has filed the present appeal, invoking the
provision of section 252 of the Companies Act, 2013 for restoration of the name of the petitioner company in the register maintained by the Registrar
of Companies, NCT of Delhi and Haryana.
As per the averments, by Major Travels Private Limited it was incorporated on 03.03.2008 having its registered office at House Number-16 F/F,
Showroom, Central Market, Punjabi Bagh, Near HDFC Bank, New Delhi-110026, New Delhi within the jurisdiction of this Tribunal. The main object
of Company is ""Tour Inbound tour Operators, Clear and lbrwarding agents, on the business as tourist agents and contractors and to facilitate
travelling"".
It is submitted by the appellant that a sweeping action was initiated by the ROC at the instance of MCA in striking of the names of several
Companies who had failed to File their Statutory Returns. The appellant had not filed its Annual Returns and balance sheet since 31.03.2014, thereby
giving rise to the surmise that the business of the company was not in operation. Consequently its name was struck off by the Respondent from the
Register of Companies under Section 248 of the Companies Act, 2013, upon taking steps in accordance with law and issuing a notification in the
Official Gazette. The names of the effected companies was posted on its website.
The appellant has submitted that since its incorporation the company is active and as per the Audited Balance Sheet , revenue for the Financial
Year 2013-2014, 2014-15, 2015-16 was Rs. 79,45,085/-, Rs. 2,13,14,117/- and Rs. 3,16,28,090/-respectively. Further, it is submitted that the turnover of
the appellant company has consistently increased during these financial years and it is expected to increase manifold in future. In order to sustain the
plea for restoration, the petitioner have placed before us the following documents:
i. Copies of Auditor Report and balance sheet for the financial years 2013-14, 2014-15 and 2015-16.
ii. Copy of Bank Statement frorn2014-15, 2015-16 and 2016-17.
iii. Copy of purchase ordersfrom 01.08.2017 to 20.09.2017.
iv. Copy of Income Tax Return for the financial years2014-15, 2015-16 and 2016-17
The Income Tax department has submitted its report dated 03.08.2018 in which they have submitted that the company has been filling its ITRs
regularly from AY 2008-09 to 2016-17. There is no outstanding demand of tax.
The provisions pertaining to restoration of the name of the company have been provided in Section 252 of the Companies Act, 2013 and the same
envisages that if the Tribunal is of the opinion that the removal of the name of the company from the Register of the Companies is not justified in view
of the absence of any of the grounds on which the order was passed by the Registrar, it may order restoration of the name of the company in the
Register of Companies.
On perusal of the documents referred to in paragraph 4 above, a reasonable presumption can be inferred that the company was active before being
struck off from the register.
Accordingly, the petition is allowed subject to payment of costs of Rs. 25,000/- to the Prime Minister Relief Fund. The restoration of the petitioner
company's name in the Register will be subject to their filing all outstanding documents for the defaulting years as required by law and completion of
all formalities, including payment of any late fee or other charges which are leviable by the respondent for the late filing of statutory returns. The name
of the petitioner company shall then stand restored in the Register of the Registrar of Companies, as if its name of the company had not been struck
off in accordance with Section 248(5) of the Companies Act, 2013 with all consequential effects and benefits.
The direction for freezing the Bank Account(s) of the appellant company, if on this ground, shall consequently be also set aside immediately to
enable the company carry out its business operation. Compliance of this order for restoration shall be made by the respondent with all its consequential
effects within one week of compliance by the appellant.
The petition is disposed off accordingly.
Let the copy of the order be served to the parties.