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Judgment
This court convened through video conferencing today. Mr. P.S. Thakre, Practising Company Secretary appeared on behalf of Petitioner Company.
This Company Petition is filed by Suryoday Infratech India Private Limited [CIN: U45400MH2011PTC221060], represented by its Director Mr.
Mahadev Shriram Bhaltadak [DIN: 03555391], under section 252(3) of the Companies Act, 2013praying 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 18.08.2011 under the Companies Act, 1956 as a private company limited by shares
with the Registrar of Companies, Maharashtra, Mumbai. Its CIN is U45400MH2011PTC221060. The Petitioner company has been incorporated to
carry on the following objects:
“To carry on the business the business in India & elsewhere for construct, erect, built, repair, re-model, demolish, develop, improve,
grades, curve, pave, macadamize, cement & maintain building structures, houses, apartments, hospitals, schools, places of worship,
highways, roads, paths, streets, damns, government, semi government or local authority any construction project, etcâ€
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 03.10.2018 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 14.12.2018 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 Company further submits that the
Company has failed to file its Financial Statements and Annual Returns for Financial Year since incorporation due to inadvertence.
The Petitioner Company has enclosed the Audited Accounts for the Financial years 2012-13 to 2018-2019. The Petitioner Company has also
enclosed copies of the Acknowledgement of Income-Tax Returns filed with the Income-Tax Authorities for the Assessment Year 2018-19.
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 for Financial Year 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.28,52,460.00, incurred Total Expenses of Rs.27,87,871.00, has Tangible Assets of Rs.8,895.00 and total Current Assets of Rs.4,52,280.00 for F.Y.
2016-17. Further, the Petitioner Company has generated total Revenue to the tune of Rs.31,67,056.00, incurred Total Expenses of Rs.30,99,389.00,
has Tangible Assets of Rs.8,005.00 and total Current Assets of Rs.6,66,460.00 for F.Y. 2017-18. It is also observed that the Petitioner Company has
other Current Liabilities of Rs.2,27,841.00 and Rs.3,73,464.00 for F.Y. 2016-17 and 2017-18 respectively.
On hearing the submissions of the Learned Authorised Representative appearing on behalf of Petitioner and on 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 revenue, has Tangible Assets, Current Assets and Liabilities 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. 1119/252(3)/MB- IV/2020filed by the Petitioner, Suryoday Infratech IndiaPrivate Limited [CIN:
U45400MH2011PTC221060], represented by its Director Mr. Mahadev Shriram Bhaltadak [DIN: 03555391], 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., Suryoday
Infratech India Private Limited [CIN: U45400MH2011PTC221060]to the Register of Companies subject to payment of a sum of Rs.70,000/- (Rupees
seventy 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€â€˜ within thirty days from the date of receipt of a copy of this Order; and
(b) Upon such restoration, the Petitioner Company shall 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.