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Judgment
Ajay Rastogi, J.—Company Petition has been filed u/s 560(6) of Indian Companies Act, 1956 for restoration of name of Company (M/s Swadeshi Hygienic Foods & Spices (P) Ltd) - name whereof has been struck off by respondent-Registrar of Companies and published in official gazette in Part-III/Section-I of Gazette of India.
After the notices were duly served, the reply to petition has been filed by Registrar of Companies, wherein it has been specifically averred in para 8 ad infra:
Therefore, as per the aforesaid provision of the Companies Act, 1956 and as per averments made by the petitioner, the office of the answering respondent has no objection if the company is restored on a heavy cost on the register of companies under sub-section 6 of section 560 of the companies Act, 1956 by the Hon''ble Court provided that the company should file the balance sheet and the annual returns for all assessing period. It is further stated that the present petition has been made for commencement of the business by the company which has already been struck off being defunct.
It is further submitted that there is provision in the Companies Act, 1956 for restoration of the name of the company on the register of companies and apart from the reasons for reviving the company stated in the aforesaid paras of petition, the contributors/members of the company are otherwise also interested in revising the company as there would be no adverse impact on public interest or in the interest of any shareholder of the company.
In view of the specific reply (supra), that Registrar of Companies has no objection if the name of the Company is restored and in reviving name of the Company, it has no adverse impact on public interest or in the interest of any share holder of the Company. But at the same time, it has been submitted that since statutory compliance u/s 159 & 220 of the Co. Act has not been complied with and since the Company has come forward with reasonable explanation, the costs may be imposed upon petitioner-Co. In view the reply (supra), present application deserves to be allowed but with costs.
Consequently, company petition is allowed with costs of Rs. 5,000/-. Respondent is directed to restore name of the Company (M/s Swadeshi Hygienic Foods & Spices (P) Ltd.) in the Register of Companies maintained by respondent provided costs of Rs. 5,000/- is deposited. Appropriate order be passed in regard to restoration of name of the Company. However, it is made clear that the Company will furnish its balance sheet and annual returns for all preceding assessments years which could not have been furnished to the Registrar of Companies, in terms of relevant provisions of Indian Companies Act, 1956.