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2025 Supreme(Online)(NCLT) 5094
NATIONAL COMPANY LAW TRIBUNAL
Smt. Lakshmi Gurung, Member (Judicial), Shri Hariharan Neelakanta Iyer, Member (Technical)
KASHINATH KRISHNA SHINDE – Appellant
Versus
THE REGISTRAR OF COMPANIES, PUNE – Respondent
Company Appeal No. 72/252/MB/2024
For the Appellants/Petitioners: Adv. Omkar V Deosthale, CS Amol Patil
For the Respondents: Present but did not marked attendance
Restoration of a company's name is permissible if compliance with statutory requirements can be assured following initial non-compliance under the Companies Act.
Headnote:(A) Companies Act, 2013 - Section 252(1) and Section 10A - Restoration of company name struck off for failure to file Form INC 20A - The appellant submitted that subscription amount was deposited and default occurred due to absence of professional advice. Court restored name with compliance mandated. (Paras 17, 18, 20)
(B) Corporate Compliance - The tribunal emphasized that past non-compliance does not bar future compliance obligations under the Companies Act, 2013. (Paras 18, 20)
| Table of Content |
|---|
| 1. company’s name struck off for failure to comply with statutory requirements. (Para 1 , 2 , 7 , 8 , 9) |
| 2. appellant highlights deposit of subscription and lack of professional advice. (Para 3 , 11) |
| 3. court’s consideration of compliance and willingness to restore. (Para 14 , 15 , 16) |
| 4. restoration of the company’s name facilitated with compliance order. (Para 17 , 18) |
| 5. tribunal maintains authority for enforcement of compliance obligations. (Para 20) |
ORDER
1. This appeal has been filed under Section 252 (1) of the Companies Act, 2013 (hereinafter as Act) by Mr. Kashinath Krishna Shinde, a Director and Shareholder of "Silverstone Excavate Private Limited" (hereafter referred to as the Company/Appellant) seeking following prayers:
a. To direct the Registrar of Companies, Pune, to restore the name of the Company in the Register of Companies maintained by it from the date when it was struck off.
b. Pass such further order or orders as the National Company Law Tribunal, Mumbai Bench, may deem fit and proper.
Brief facts
2. The name of the company was struck off from the Register for failure to file Form INC 20A within 180 days of its incorporation as required under Section 10A of Companies Act, 2013 .
Submissions from the Appellant:
3. The company was incorporated on 29.10.2020 under the Companies Act, 2013 . Though the subscription amount of Rs. 10,00,000/- was deposited by the shareholders but, the declaration regarding the payment of subscription amount by subscribers to the memorandum was not filed within one hundred and eighty days of its incorporation as required under subsection (1) of Section 10A of the Companies Act, 2013 .
4. The Authorised subscribed, issued and paid up capital Share Capital of the Appellant Company is 10,00,000/- divided into 10,000 Equity shares of Rs. 100- each.
5. The composition of Board of Directors as on the date of strike off and as on the date of filing this application, is as follows:
| S r. No. | Name of Director | Designation |
| 1. | Abdulkalam Kareem Jamadar | Director |
| 2. | Kashinath Krishna Shinde | Director |
6. The main object of the Company is as follows;
“To carry on in India or elsewhere the business of prospecting, exploring, operating, and working on mines, quarries and to win, set, crush, smelt, manufacture, process, excavate, dig, break, acquire, develop, exercise, turn into account, survey, produce, prepare, remove, undertake, barter, convert, finish, load, unload, handle, transport, buy, sell, importy, export, supply, and to act as agent, broker, adatia, stockiest, distributor, consultant, contractor, manager, operator or otherwise deal in all sorts of presents and future ores, minerals, deposits, goods and substances and materials, including ……”
7. As the company failed to file form INC 20A, the Registrar of Companies Pune, struck off the name of the company from the register of companies by publishing STK 7 dated 25.10.2022 and also forwarded a copy of the same to the company. The company master data reflects the status of the Company as "Strike Off" as on the date of the filing of this appeal. Copy of STK-1 dated 11.08.2022 & STK-7 dated 25.10.2022 are annexed as Annexure-1 (Colly) to the appeal. Downloaded company master data as on 10.06.2024 is annexed as Annexure-2 to the appeal.
8. The appellant submits that there are two subscribers to the memorandum and after the incorporation of the company the said subscribers have already contributed and deposited the subscription amount of Rs. 5,00,000/- each to the bank account of the company. The company has opened two bank accounts, one with Bank of Baroda, Gadhinglaj and another with ICICI Bank, Gadhinglaj branch. There is one credit entry of Rs. 5,00,000 on 22.12.2020 in the bank account of company maintained with Bank of Baroda. Similarly, there is another credit entry of Rs. 5,00,000/- on 06.01.2021 in the bank account of the company maintained with ICIC bank. It is submitted that the said entries represent the subscription amount deposited by the shar
