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Judgment
B.S.V. Prakash Kumar, J
This is a Company Petition No. 140/ND/2020 filed under Section 252(3) of the Companies Act, 2013 (hereinafter called as 'the Act') represented by its Counsel of M/s. Vaishnav Infocom Services Private Limited (hereinafter called as 'the Company') seeking a direction to the Registrar of Companies, NCT of Delhi & Haryana (hereinafter called as 'the ROC'), to restore the Company in the Register of Companies.
Brief averments of the Application are that the Company was incorporated on 18.05.2011, having its registered office at Plot No. 260, II Floor, Patparganj, New Delhi - 110 092. The Authorised Share Capital of the Company is ` 1.00 Lac (Rupees One Lac Only) divided into 10,000 number of Equity Shares of ` 10 each and Paid up Capital of the Company is ` 1.00 Lac divided into 10,000 number of Equity Shares of ` 10 each. The main objectives of the Company are given in the Memorandum of Association.
The Applicant Company has failed to file its Balance Sheets for the years 2014, 2015 and 2016 and Annual Returns for the past five years i.e. from 2014 to 2019. The Respondent has, therefore, initiated action under Section 248(1) of the Act for striking off the name of the Company from the Register of Companies and consequently the name of the Petitioner Company was struck off from the Register of Companies vide a notice and the same was published in the Gazette of India dated 18.06.2018 and 08.08.2018.
The reason given by the Company for non-filing of Returns is due to statutory returns and audited balance sheets not filed on time and there was no appointment of Company Secretary. The Counsel submitted that Company is still carrying on its business and its activities and therefore the present Application is filed for restoration of the name of the Company in the Register of Companies.
The Registrar of Companies, NCT of Delhi & Haryana, who is the Respondent herein, has not filed Counter Affidavit wherein the details of the Company such as date of incorporation, address of the registered office and its main objects as per the Memorandum of Association are mentioned. While submitting the above facts, the Registrar of Companies has stated that the Applicant Company may be directed to prove that it was carrying on business or was in operation and also be directed to file all pending Financial Statements and Annual Returns in case restoration is granted. It has further been submitted that the Company may be directed to give an undertaking stating that the Company was neither involved in money laundering activities during the demonetization period nor involved in any unlawful activities during the relevant period.
Heard. Perused pleadings and documents filed in support of the contentions of the Petitioner side.
ORDER
Having satisfied with the reasons mentioned above, this Tribunal is of the opinion that it would be just and proper to order restoration of the name of the Company in the Register of Companies.
The Company shall file all the pending Financial Statements and Annual Returns with ROC as per the Act and Rules made thereunder besides filing an Affidavit stating that the Company was involved neither in money laundering activities during the demonetization period nor in any unlawful activities during the relevant period.
Further, the Applicant Company is directed to pay the cost of ` 25,000 (Rupees Twenty Five Thousand Only) to the ROC while submitting the documents.
The ROC is directed to restore the Company in the Register of Companies. The Applicant is directed to place this Order with ROC within 30 days from the date of receipt of this Order.
Accordingly the Company Petition No. 140/ND/2020 is hereby disposed of.