(Under Section 252 of the Companies Act, 2013)

In the matter of M/s. Pulikkal Sreechakra Finance & Chits Private Limited (In Liquidation)

MEMO OF PARTIES:

V M Prasanth, Official Liquidator High Court of Kerala representing M/s Pulikkal Sreechakra Finance &Chits Private Limited (In Liquidation).

… Appellant -Vs Registrar of Companies, Kerala & Lakshadweep Company Law Bhawan, BMC Road, Thrikakara, Kochi – 682 021.

… Respondent Order delivered on: 01.12.2023 Coram:

Hon’ble Member (Judicial) : Shri. Khetrabasi Biswal Hon’ble Member (Technical) : Shri. Shyam Babu Gautam Appearances:

For the Appellant : Mr. V M Prasanth, Official Liquidator For the Respondent : Ms. Bindu Vergis, AROC

O R D E R

Per: Khetrabasi Biswal, Member (J)

1. This Company Appeal has been filed by the Official Liquidator Mr. V M Prasanth, High Court of Kerala in the matter of M/s Pulikkal Sreechakra Finance and Chits Private appointed by the Hon’ble Limited (In Liqn) (CIN: U65992KL1996PTC010672), (hereinafter called as the Company), under Section 252 of the Companies Act, 2013 for restoration of name of the Struck-Off Company in the Register of Companies, maintained in the office of the Registrar of Companies, Kerala. It is stated that the name of the Company was struck off vide STK-7 Notice on 17th September 2018.

2. The averments made by the Appellant are summarized as under: -

i. The Company was incorporated on 21.08.1996 with CIN:

U65992KL1996PTC010672 having registered office at 211/VII Pulikkal building, P O Puthenchira South Trichur, Malappuram, Pin 680682. The main objects of the company are to carry on the business in money lending, finance and chits but the company shall not do the business of banking with the ‘

meaning of Banking Regulation Act, 1949.’ The authorized share capital of the company is Rs. 5,00,000/- (Rupees Five Lakhs only), divided into 5000 (Five thousand only) equity shares of Rs100/- (Rupees hundred only) each. The issued, subscribed and paid-up share capital of the company is Rs.4,70,200/- (Rupees four lakhs seventy thousand two hundred only), divided into 4702 (Four thousand seven hundred and two only) equity shares of Rs.100/- (Rupees hundred only) each.

ii. The name of the company was struck off by the Respondent on the ground that the company has not filed Annual Statements under section 551 of the Act for the period since the year 2017 in e-Form GNL-2. The Appellant states that the oversight by the Registrar of Companies, Kerala, the company petitioner company was “under liquidation” and due to was struck off on 17.09.2018 and hence the Official Liquidator was unable to file e-form GNL-2 on time before the Registrar of Companies, Kerala.

iii. The Appellant submitted that unless the present application is allowed and the name of the company is not restored on the RoC, the company shall suffer irreparable loss and hardship and will be highly prejudiced.

iv. The Appellant further states that the company is ready and willing to file the outstanding statutory documents in the event of restoration of the name of the company in the Register maintained by the Registrar of Companies, Kerala.

v. The company falls under the jurisdiction of ROC, Kerala. The appeal has been filed within the period of limitation as per section 252(3) of the Companies Act, 2013.

3. The ROC, Kerala has filed its observation before this Tribunal on

09.11.2023, stating that as per section 248-252 of the Companies Act, 2013 read with official communication from the Ministry of Corporate Affairs dated 16.04.2018, the strike-off action against the Appellant company was initiated for the reason of non-filing of financial statements and annual returns of company for the financial years 31.03.2006 till 31.03.2018 as per Section 92 and 137 of the Act, and that it has failed to acquire status of dormant company under section 455 of the Companies Act. ROC further stated that notice in form STK-1 was issued to the company and its directors on 17.05.2018, but no positive response was receive