D J Constructions (Nasik) Private Limited vs Registrar Of Companies, Maharashtra Mumbai

The court convened through video conferencing today.

This Company Petition is filed by D J Constructions (Nasik)Private Limited [CIN: U45200MH1991PTC064199], represented by its Director Mr.

Dharampal Jodharam Hanswani [DIN: 00568081], under section 252(3) of the Companies Act, 2013 praying for restoration of the name of the

company to the Register of Companies maintained by the Registrar of Companies, Mumbai.

The Petitioner submits that the company was incorporated on 27.11.1991 under the Companies Act, 1956 as a private company limited by shares

with the Registrar of Companies, Maharashtra, Mumbai. Its CIN is U45200MH1991PTC064199. The Petitioner company has been incorporated to

carry on the following objects:

“To take over the runner business of partnership firm in the name of and style D J Builders together with all or any of the assets and/or

liabilities and on such take over the firm shall stand dissolvedâ€​

“To carry on the business of builders and developers, general construction and contractors of flats, maisonettes, dwelling houses, shops,

offices, industrial estates, leases of lands, flats and other immovable properties etc.â€​

The grievance of the Petitioner Company is that the Respondent Registrar of Companies, Maharashtra, Mumbai struck off the name of the

Petitioner Company from the Register of Companies maintained by them by issuing notice in Form STK-1 and STK-5 dated 28.08.2019 under section

248(4)(1) for removal of the name of the Company from the Register of Companies under section 248(1) of the Companies Act, 2013 and rule 3 of

the Companies (Removal of Names of Companies from the Register of Companies) Rules, 2016 due to defaults in statutory compliances, namely,

failure to file Financial Statements and Annual Returns since Incorporation and for not carrying on any business or operation for a period of

immediately preceding two years and neither made any application within such period for obtaining the status of ‘Dormant Company’ under

section 455 of the Companies Act, 2013.

Consequently, the Respondent ROC initiated the process under section 248(5) of the Companies Act, 2013 by issuing Public Notice in Form STK-7

Public Notice dated 20.02.2020 and informed the Petitioner Company that the name of the Company has been struck off from the Register of

Companies and the Company has been dissolved.

The Petitioner Company further submits that due to striking off the name of the Petitioner Company, the Director Identification Numbers (DIN) of

the directors of the Company have been deactivated.

The Petitioner Company submits that the Company has been functioning since its incorporation. The Petitioner Companyfurther submits that the

Company has failed to file its Financial Statements and Annual Returns since Incorporation due to inadvertence.

The Petitioner Company has enclosed the Audited Accounts for the Financial Years 1991-92 to 2018-19. The Petitioner Company has also

enclosed copy of the Acknowledgement of Income-Tax Returns filed with the Income-Tax Authorities for Assessment Year 2019-20.

The Petitioner Company submitted that the Petitioner Company has replied to the Notice in Form-1 dated 25.07.2019 issued by Registrar of

Companies, Mumbai vide its letter dated 11.09.2019.

On perusal of the report of the Respondent, it appears that the name of the company was struck off due to failure on the part of the company to

file the statutory documents since Incorporation, and also for not carrying on the business.

Upon perusal of the Financial Statements of the Company, it is observed that the Petitioner Company has generated total Revenue to the tune of

Rs.90,000.00, incurred Total Expenses of Rs.1,33,290.00, has and total Current Assets of Rs.33,33,114.00 for F.Y. 2017-18. Further, the Petitioner

Company has generated total Revenue to the tune of Rs.50,000.00, incurred Total Expenses of Rs.20,15,640.00, has and total Current Assets of

Rs.52,39,004.00 for F.Y. 2018-19. It is also observed that the Petitioner Company is having Long-Term Borrowings of Rs.22,07,457.00 for F.Y. 2017-

18 and 2018-19.

On hearing the submissions of the Learned Authorised Representative appearing on behalf of Petitioner andon perusal of the Report of Registrar

of Companies, Maharashtra, Mumbai,the Audited Accounts submitted by the Petitioner Company and other documents placed on record, the Bench

observes that the Petitioner Company has generated meagre Revenues, has Current Assets and Long-Term Borrowings in its Books of Accounts.

Therefore, it would be just, equitable and in the interest of justice to provide an opportunity to the company to rectify its defaults and continue the

business.

Given the above facts and circumstances, we are satisfied that the prayer sought by the Petitioner company deserves to be allowed.

Accordingly, Company Petition bearing CP No.1256/252(3)/MB- IV/2020 filed by the Petitioner, D J Constructions (Nasik) Private Limited [CIN:

U45200MH1991PTC064199], represented by its Director Mr. Dharampal Jodharam Hanswani [DIN: 00568081], under section 252(3) of the

Companies Act, 2013, seeking restoration of the Company’s name in the Register of Companies maintained by the Registrar of Companies,

Maharashtra, Mumbai is allowed on the following terms:-

(a) The Respondent Registrar of Companies, Maharashtra, Mumbai, is directed to restore the name of the Petitioner Company, viz., D J Constructions

(Nasik)Private Limited [CIN: U45200MH1991PTC064199]to the Register of Companies subject to payment of a sum of Rs.2,80,000 (Rupees two

lakh eight thousand only)as cost payable to the account of ‘to be paid online through Bharat Kosh in favour of “Pay and Accounts Officer,

Ministry of Corporate Affairs, Mumbaiâ€​‘within thirty days from the date of receipt of a copy of this Order; and

(b) Upon such restoration, the Petitioner Companyshall file all its pending financial statements and Annual Returns with all the applicable fees and late

fees with the Respondent Registrar of Companies within thirty days from the date on which the name of the Company is restored to the Register;

failing which, this order will stand vacated automatically.

Upon restoration of the name of the Petitioner Company to the Register of Companies after complying with the terms mentioned above, the

Registrar of Companies, Maharashtra, Mumbai, shall issue appropriate communications to the bank authorities for defreezing the accounts of the

Petitioner Company.