M/s Transtec Resources Private Limited vs Registrar of Companies (12-11-2020)
The petition was filed under section 252 (3) of the Companies Act- Gist of section 252: Section 252 of Companies Act, 2013 states that an individual aggrieved by an order given by the Registrar, stating a company as dissolved under Section 248, can file an appeal to the NCLT in less than three years from the date of the Registrar order. Moreover, if the Tribunal is not satisfied with the removal of the name of the company from the register of companies, it shall order the restoration of the name of the company on a condition by which the Tribunal has to provide a reasonable opportunity to make representation to the Registrar, the company and the respective individuals.
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The appellant herein the ROC had struck off the company’s name of the Register due to defaults in statutory compliances, namely, failure to file financial statements and annual returns, which were due from 31.03.2013.
The petitioner: submitted that the accounts of the company for the period 2012-13 to 2018-19 have been duly prepared and audited and the Company was carrying its business, as is evident from the Balance Sheets of the Company. Petitioner has attributed occurrence of some unforeseen events and also certain management issues, to be the reason for non-filing of statutory returns, even though the Company was in operation.
The Order: The applicant had produced on record copy of audited annual accounts, for all defaulting years and copy of income tax returns filed for Assessment year 2014-15, 2015-16, 2016-17, 2019-20. Perusal of the documents available on record prima facie, suggest that the Company has been doing its business during the relevant time.
The Registrar of companies, odisha, the respondent herein, is ordered to restore the original status of the Appellant company TRANSTEC Resources (p) Limited.
