ORDER

(Hearing Conducted through Hybrid Mode)

1. This Petiion has been filed by Mr. I. Ramani in the capacity of the Shareholder of the subject matter Company namely, M/S. NALINUM BUILDERS AND DEVELOPERS PRIVATE LIMITED, under Section 252 of the Companies Act, 2013 for restoration of the name of the Company in the Register maintained by the Respondent / RoC aggrieved against the order of Strike Off carried out by the Registrar of Companies, Concerned under Section 248 of the Companies Act, 2013.

2. The brief facts of the matter are tabulated below: -

3. It is stated that the main object of the Company is to carry on the business as promoters, contractors, developers or proprietors of homes, apartments, flats, villas, condominiums, shopping malls, auditoriums, community halls, hospitals and health infrastructures, civic amenities, residential, commercial, institutional or industrial buildings and infrastructures, urban and rural infrastructures, townships, techno-parks, road, bridge, railway, waterway, other public infrastructures and etc., The detailed objects are set out in the Memorandum of Association filed along with the Petition.

4. It is stated that, the subject company has filed the last audited financial statements for the FY 2014 – 2015. Further it is stated that the task of filing returns of the company has been bestowed with the Company secretary, who has failed to deliver his services and concealed the matter. All these facts came to the knowledge of the company only in 2021, whereas the company was struck off in 2018 itself.

5. It is submitted that the company was functioning and carrying on its business activities till now for which it was incorporated. The company has audited its financials and failure to file the statutory requirements are neither wanton nor wilful. The Strike off is causing serious and irreparable consequences. Further submitted that, in event of restoration/ revival, the company is ready to file all its outstanding statutory compliances.

6. This Tribunal vide order dated 03.11.2022 in Comp Application (CA)/ 10 (CHE)/ 2022 taken on record the Audited Financial statements of up to FY 2019 - 2020 of the Struck off company.

7. Upon notice, the Respondent/ RoC filed the Report on 24.04.2024, wherein it is stated as follows, “8. However, it is respectfully submitted that the petition may be considered on merits ...”

There is no other significant objection from the Respondent /RoC.

8. We have heard the submissions of the Petitioner Company and the Respondent/RoC as well. This Tribunal has made the below observations.

To substantiate the plea of revival, the Petitioner has placed the Audited Balance sheet and financial statements of FY 2015 – 2016 to FY 2019 - 2020. This Petition is for restoration of the name of the subject company name in the register maintained by the Respondent / RoC on the ground that the company is actively carrying on the business for which it was incorporated.

9. Specifically considering the Audited financials of the FY 2019 - 2020 company incurred expenses, given employee benefits from which it can be presumed that something happening in the Struck off company even after the date of struck off. The related extracts