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Judgment
Reeta Kohli, Member (Judicial)
The present Petition has been filed under Section 252 of the Companies Act, 2013 (hereinafter as to Act) by “Varad Promoters Private Limited”, restoration of the name of the company in the Register of Companies maintained by the Registrar of Companies, Mumbai.
The name of the Company was struck off from the Register on account of the reasons that the Company had failed to file the statutory Returns for the Financial Year 2011-12 to 2019-20 and had also not made any application within such period for obtaining the status of Dormant Company under Section 455 of the Act. The Respondent after receiving the direction from the Ministry of Corporate Affairs vide letter dated No. 3/53/2017-CL-II dated 17.02.2017, the ROC published a public notice for striking off and dissolution of Company i.e. STK-7 dated 11.07.2017.
Submissions from the Petitioner:
It is submitted that the company was incorporated on 16.07.2003 under the Companies Act, 1956. The Annual Returns and Financial Statements could not be filed for the Financial Years 2011-12 and 2019-20. It is further submitted that the Company now has all the documents ready and prepared and is willing to file the same before the ROC, if so permitted. Further, the Company is willing to file any other necessary documents which may be required by the ROC.
Submissions from the Respondent/RoC:
The Respondent/ ROC has filed a detailed report with this Tribunal explaining the sequence of events leading to the striking off of the company. It is stated that the petitioner failed in filing of its statutory returns. The Respondent issued notices in forms STK-1 to STK-7 to the Company on the ground that the Company had failed to file Annual Return and Financial Statements of the Company and have not made any application within such period for obtaining the status of Dormant Company under Section 455 of the Act and also issued STK-5 dated 27.04.2017.
The Respondent has further submitted that in absence of any representation against the proposed strike off action, the Registrar struck off the name of the company on 11.7.2017 and the dissolution order was published on the website of the Ministry vide STK 7 on 11.07.2017.
Findings:
The facts and circumstances of the case show that the relevant documents which are required to be filed, are ready with the Company and the Company is willing to file the same, if so permitted.
The Petitioner has enclosed the Audited Annual Accounts for the years 2011-2012 and 2019-2020 with the Petition to demonstrate that the Company is in continuous operation.
Hence, upon considering the facts and circumstances of the present petition, this Bench is of the view that, it would be just and proper to order restoration of the name of the Company in the Register of Companies maintained by the ROC.
Accordingly, this Petition is allowed. The restoration of the Company's name to the Register of Companies maintained by the ROC is hereby ordered with a direction that the Company shall comply with the provisions of the Act and further it will be subject to payment of costs of Rs. 25,000/- per each defaulted year i.e. 9 years, total amounting to Rs.2,25,000/- to be paid online through “BharatKosh” to the concerned ROC as and when the order gets uploaded on the site of this Tribunal. Consequentially thereupon the Bank Account(s), if freezed, shall get defreezed and can be operated by the Company.
The Registrar of Companies, Pune shall give effect of this Order only after perusal of the Compliance report in respect of the costs imposed. The Company is directed to file all the required documents and fulfil other relevant statutory compliances within 30 days from restoration of its name in the Register of Companies maintained by the ROC.