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Judgment
Kishore Vemulapalli, Member (Judicial)
Mr. Avinash R. Khanolkar, Ld. Counsel for the Petitioner Company present.
This Company Petition is filed by Mr. Suryakant Nanaware and Mrs. Sunita Nanaware on behalf of S & S Infotech Services Private Limited CIN: U72900MH2006PTC163972 under section 252 (1) 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 23.08.2006 under the Companies Act, 1956 with the Registrar of Companies, Mumbai.
The grievance of the Petitioner Company is that the Respondent/ Registrar of Companies, Mumbai struck off the name of the Petitioner Company from the Register of Companies maintained by them by issuing Notice in Form STK-5 dated 28.08.2019 and STK-7 dated 08-11-2019 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 and failure to do business for two years.
The Petitioner Company submits that the Company has failed to file its Financial Statements and Annual Returns for Financial Years 2016-17 to 2020-21 which is for a period of 05 years, due to inadvertence.
The Petitioner Company has enclosed the Audited Accounts for the Financial Year 2017-18 to 2018-19. The Petitioner Company has enclosed copy of the Acknowledgement of Income-Tax Returns filed with the Income-Tax Authorities for the years 2018-19 to 2019-2020.
The Respondent has filed his report and reiterates that the name of the Company was struck off, as the company was not carrying on any business or operation for a period of immediately preceding two years.
On hearing the submissions of the Learned Counsel for the Petitioner and on perusal of the Report of Registrar of Companies, Mumbai, the Audited Accounts submitted by the Petitioner Company and other documents placed on record, the Bench observes that, the Company has been illegally running business and operating the Bank Account of the Company, even after it being struck off vide STK-7 dated 08.11.2019 by the Registrar of Companies, Mumbai. This is an abuse of the process of Law on the part of the Petitioner. However, in the interest of justice to provide an opportunity to the Company to rectify its defaults and continue carrying on with its business as per Law.
Given the above facts and circumstances, we are of the considered view that the Petitioner company is hereby restored, subject to paying exemplary cost of Rs.6.00 lakh.
Accordingly, Company Petition bearing C.P. No. 152/MB-IV/2021 S & S Infotech Services Private Limited CIN: U72900MH2006PTC163972, represented by its Directors and Shareholders Mr. Suryakant Nanaware and Mrs. Sunita Nanaware, under section 252(1) of the Companies Act, 2013, seeking restoration of the Company’s name in the Register of Companies maintained by the Registrar of Companies, Mumbai is allowed on the following conditions: -
(a) The Respondent Registrar of Companies, Mumbai, is directed to restore the name of the Petitioner Company, viz., S & S Infotech Services Private Limited, to the Register of Companies subject to payment of a sum of Rs.6,00,000/- (Rupees Six Lakh only) as cost ‘to be paid online through “Bharatkosh” in favour of “Pay and Accounts Officer, Ministry of Corporate Affairs, Mumbai” within thirty days from the date of receipt of a copy of this Order;
(b) Upon such restoration, the Petitioner Company shall 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.
(c) Upon restoration of the name of the Petitioner Company to the Register of Companies, Mumbai after complying with the conditions mentioned above, the Registrar of Companies, Mumbai, shall issue appropriate communications to the Bank Authorities for defreezing the Accounts of the Petitioner Company, for a limited period of one year.
Accordingly, CP/152/(MB)/2021 is allowed and disposed of.