Roshan Kuruvilla Thomas vs Registrar Of Companies Chennai

R. Sucharitha, Member (Judicial)

This   is   an   Application   which   has   been   filed   by   the shareholder/ Director of the struck off company namely, Universus Infotech  Private  Limited,  under Section  252(3)  of the  Companies Act, 2013  in  relation  to an  order of striking off the  name  of the Applicant Company passed by the Respondent under the provisions of Section 248 of the Companies Act, 2013.

It  is  represented  that the  Applicant  Company  is  a  private limited Company incorporated on 13.05.2013, having its registered office  at  No.14,   Natesan  Colony,   Kottivakkam  Chennai  and   the Corporate  Identity  Number  of  the  Company (CIN)  is U72900TN2013PTC091103.   The  Authorized   share  capital   of  the Company is Rs,1,00,000/- consisting of Rs.10,000 equity shares of Rs.10/- each. The main objects of the Company are to carry on the business of Information Technology Services (IT) and the detailed objects  of the  company  can  be  seen  from  the  Memorandum  of Association filed with the Application Typeset.

It   is   averred   in   the   application   that   the   company    was managed   by  two  directors  namely,  Mr.Roshan  kuruvilla  Thomas and  Mr.  John Thomas.  Further,  it is seen from the  records that, they  are  also  shareholders  of the  company  having  5000  shares each respectively. It is submitted that, the Applicant company was struck off by the STK- 7 notice dated 09.11.2019.

Further, it is seen from the Application that the company had not filed the financial statements for the years of 2015-16,  2016-17 and 2017-18.

It was submitted by the Ld Authorized Representative for the Applicant   that,   for   the   purpose   of   adhering   to   the   statutor compliances,   the   Applicant   company   had   hired   a    Professional Charted Accountant,  who defaulted in filing the Annual returns on the stipulated time. The default on the part of the said professional is   stated   as   the   reason   for   non   compliance   to   the   statutory requirements under the Companies Act, 2013.

It    is    averred    in    the    application    that   the    company    is continuing the business operations and filed income tax returns of Rs.19,977/-,   Rs.26,103/-   Rs.9.700/-   and   Rs.5,73,970/-   for  the assessment   years   of 2017-18,2018-19, 2019-20   and 2020-21, respectively.

Upon   notice,   the   Respondent/RoC   has   filed   the   Report wherein  it is seen that there is no significant objection which  has been raised by the respondent.

We have considered the plea of the Applicant Company and the Respondent/RoC as well. The Applicant is seeking restoration of its name in the register as maintained by RoC by relying up on the ground that the Applicant Company as of date is carrying on the business for which it was incorporated and it is in operation and in the circumstances, it is just that the name of the Company should be  restored  on  the  Register of Companies  as  maintained  by  the Respondent.  In  order to sustain  the  said  plea,  the Applicant  has placed the following evidences:

i. Copy of Income Tax Returns for the years of 2017-18,2018-19, 2019-20   and 2020-21.

ii.  Bank  Statements  of the  Company  for  the years of 2016-17, 2017-18, 2018-19.

iii.  Financial  statements  of the year of 2017-18, 2018-19, 2019-20.

A  perusal  of the  aforesaid  document  more  particularly  the banks statement shows that the Company has been active on the period  strike  off and  carrying  on  its  business for the  purpose  of which it was incorporated for.

Thus, taking into consideration the provisions of Section 252 of  the   Companies  Act, 2013   which   vests  this  Tribunal   with   a discretion  where  the  Company  whose  name  has  been  struck  off and such Company is able to demonstrate that there is a running business    as on the date when the name was struck off and also keeping  in  consideration  that it is just to  do  so  can  restore  the name of the Company in the register and in the interest of all the stakeholders including members of the Company, its employees as well as the revenue and the Applicant itself who seeks restoration of the name of the Company in the register being  maintained  by RoC and in the above said circumstances the Application is allowe subject to the following directions namely:

(i)The  Registrar  of  Companies,  Chennai   is  ordered  to  restore the original status of the Applicant Company viz. Universus Infotech Private Limited as if the name the Company has not been struck off from the Registe of Companies  with  resultant  and  consequential  action• like changing the status of Company from "strike off' to "Active"

(ii)  The Company shall within a period of 30 days from the restoration   of  the   Applicant   Company's   name   in   the register  being   maintained   by  the   RoC,  the  Applicant/ petitioner   will   file   inter   alia   its   annual   returns    and balance   sheets   as   well   other   compliances   statutorily required to be made under the Companies Act, 2013 for the   period   from   which   there   has   been   default   with requisite   charges/fees   as   well   as   additional   fee/late charges.

(iii)  That  the   Restoration  of  the  Company's   name  is  also subject to the  payment of cost of र50,000/- through online payment in www.mca.aov.in under miscellaneous fees by  mentioning the particulars as "payment of cost for revival of Company".

(iv)  Till   all   compliances   are   made   by   the   Company,   the Company   shall   not  alienate   or  dispose   of  any  of  its valuable assets.

(v)    It  is  further  observed  that  by  virtue  of  this  order  of  restoration of the name of Company in the register it will not entitle the Directors of the Company whose names in case  have  been  disqualified  by  virtue  of provisions  of Section 164     of   the    Companies    Act, 2013     by    the Respondent/RoC     automatically     to  be  restored  to directorship except in accordance with law.

(vi)  An   affidavit  of  compliance   of  the  aforesaid  direction  shall   be   filed   by  the  Applicant  within   a   period   of 2 months from the date of this order.

(vii) The   shareholders   of  Applicant   Company   shall   jointi  submit  an  Undertaking  to  the  Registrar  of Companies stating therein that the accounts of the Company were not used as means to transact tainted money during the period of demonetization.

(viii)Further, this order allowing the Application shall also not  circumscribe  the  power  of  the  respondent  to  proceed against  the   Appellant   Company   and   its   Directors   as mandated     for     alleged  late     filing     of     any     forms, documents,   returns  and   such  other  compliance  under the provisions of Companies Act, 2013.

The    Application    stands   allowed    on   the    aforementioned terms.