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Judgment
The erstwhile director of Uptime Builder Developers Private Limited bearing UN NO: U70200DL2010PTC206364 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 Uptime Builder Developers Private Limited it was incorporated on 28.07.2010 having its registered office at 126, a
Jhuggies BLK No. 6, Khicri Pur, Delhi- 110091 within the jurisdiction of this Tribunal. The main object of Company is"" To carry on the business of
construction of residential houses, commercial buildings, flats and factory sheds and building's in or outside of India and to act as builders,
colonisers and civil constructional contractor"".
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 the F.Y ended on
31.03.2016, thereby giving rise to the surmise that the business of the company was not in operation. Consequently, its name was struck off vide STK-
7 dated 08.08.2018 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 has been carrying on business of construction of residential
houses, commercial buildings, flats and factory sheds and building's in or outside of India and to act as builders, colonisers and civil constructional
contractor . The appellant has further submitted that the company has also filed its income tax returns for assessment year 2013-2014, 2014-2015,
2015-2016, and 2016-2017. However due to negligence on the part of company personnel, the appellant could not file the balance sheet and annual
return since the F.Y. ended on 31.03.2016 along with relevant documents with the ROC.
In order to sustain the plea for restoration, the petitioner have placed before us the following documents:
i. Copies of Auditor's Report and balance sheet for the financial year 2015-16, 2016-17, 2017-18.
ii. Copy of Income Tax returns for the F.Y 2013-14, 2014-15, 2015-16, 2016-17.
iii. Copy of Bank Statement from 01.04.2012 to 31.03.2019.
It is pertinent to mention here despite due service of notice the Income Tax Department has yet not filed its reply to the appeal.
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
envisage 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 5 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 the 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.