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Judgment
Anuradha Sanjay Bhatia, Member (Technical)
This present Petition has been filed under Section 252 (1) of the Companies Act, 2013 (hereinafter as “Act”) by Mr. Masumeh Neelam Makhija, the Director of "Exotic Foods Private Limited" (hereinafter as “Company”) praying for restoring the Company’s name in the Register maintained by the Registrar of Companies, Pune (hereinafter as ROC).
The Petition reveals that the Company was incorporated under the Companies Act, 1956 on 07.06.1993, vide CIN: U99999PN1993PTC072286. The name of the company was struck off from the Register on account of the reasons that it was not carrying on any business operation for a period more than two financial years and the ROC, Pune initiated proceedings under Section 248 of the Act and struck off the name of the Company.
Submissions from the Petitioner:
The Petitioner submits that the Company is a Private Company limited by shares and incorporated on 07.06.1993 under the Companies Act, 1956 under the name of “Exotic Foods Private Limited" and bearing CIN No. U99999PN1993PTC072286.
The company is a working company and has plans to afoot to continue business and expand operation. The Directors of the Company are professionals and want to expand the business of the said Company.
The Petitioner states that the company has defaulted in filing of the Balance Sheet and Annual returns from the year 2013-14 to 2021-22. The applicant undertakes that upon restoration of the Company, if allowed by this Tribunal, to the Register maintained by the RoC, the applicant will complete all the pending legal compliances including filing of Financials and Annual Returns to the Registrar of Companies. Further, the Company is willing to file any other necessary documents which are required by the RoC.
Submissions from the Respondent/ROC:
The Respondent/ROC has filed a detailed report dated 21.12.2021 explaining the sequence leading to the striking off of the company. It is stated that the petitioner itself admitted non-filing of statuary returns. The Respondent side issued STK-1 notice to the Company on the ground that, the Company is not carrying any business and that there was no business operation for a period of more than two financial years and have not made any application within such period for obtaining the status of Dormant Company under Section 455 of the Act.
It is also submitted that, the Company had failed to file statutory returns for a continuous period of more than two years, the ROC came to conclusion that, the Company has ceased to do its business and consequentially the name has been struck-off from the Register of ROC.
FINDINGS
That, the facts and circumstances of the case show that the relevant documents which are required to be filed, are ready with the company and the company is willing to file the same, if so permitted.
The Petitioner enclosed the Audited Financial statements for the years 2013-14 and 2016-17 with the Petition to show that the Company is in continuous operation.
Hence, upon considering the facts and circumstances of this present petition, this Bench is of the view that, it would be just and proper to order restoration of the name of the Company in the Register of Companies maintained by the ROC.
Accordingly, this Petition is Allowed. The restoration of the Petitioner Company’s name to the Register of Companies maintained by the RoC, is hereby ordered, with a direction that the Company shall comply with the Provisions of the Act. Further, this Order will be subject to payment of costs of Rs. 25,000/- per each defaulted year i.e. 9 years to be paid online through Bharat Kosh to the concerned ROC, as and when the order gets uploaded on the site of this Tribunal. Consequentially thereupon the Bank Account/s if freezed shall get defreezed which can be operated by the Petitioner Company.
This Petition is disposed of on the terms directed above. The RoC shall give effect to this Order only after perusal of the Compliance report of cost imposed. The Company is directed to file all the required financial documents upto date and shall fulfil other relevant statutory compliances within 30 days from Restoration of its name in the Register of Companies maintained by ROC.