Rajeswara Rao Vittanala, Member - (1.) The Present Company Application bearing CA. NO.105/252/HDB/2017 is filed by Prasad Avenues Private Limited, under Section 252 (3) of Companies Act, 2013 R/w NCLT Rules 2016 and R/w Rule-87A of the NCLT (Amendment) Rules, 2017, by inter-alia, seeking following reliefs: a) to pass an order for restoration of the name of the applicant in the Register of Companies maintained by the Registrar of Companies, Andhra Pradesh and Telangana. b) to direct the Registrar of Companies to place the Company and all other persons in the Company such as Directors, Shareholders, Employees and all other related to the Company are in the same position as nearly as may be as if the name of the Company had not been struck off from the Register of Companies. c) to order that the applicant shall deliver a certified copy of the order of this tribunal to the Registrar of Companies (ROC) within 30 Days from the date of the order in physical form, d) to order that upon delivery of the physical form of the certified copy of the order of this tribunal, the Registrar of Companies (ROC) enables the applicant to deliver the order through electronic mode in the form of an attachment to INC-28 or with any other relevant form as prescribed by Ministry of Corporate Affairs. e) to order that upon such delivery, the Registrar of Companies (ROC) do, in his Official Name and Seal, publish the order in the Official Gazette enabling the Company to be in the Register of Companies maintained by ROC. f) to allow the Applicant to file pending Financial Statements and Annual Returns with ROC within 30 days, from the date of enabling the applicant by ROC in his portal, to file such documents under e-filing with requisite fee and additional fee as prescribed under Section 403 of the Companies Act, 2013 read with Rule 12 of Companies (Regulation of offices and Fees) Rules, 2014, or on or before a date prescribed by the Hon'ble Tribunal etc facts of the case, as mentioned in the Application, are as follows: a) Prasad Avenues Private Limited (hereinafter referred to as Company ) was incorporated under the Companies Act, 1956 on 3rd November, 1997 as a Private Limited Company with the Registrar of Companies, Hyderabad. b) The Company is established with main objects to carry on the business of sale and purchase of immovable and landed properties, to survey, sub-divide, improve and develop lands for the purpose of sale or otherwise to acquire, improve, develop and exercise all rights and or otherwise, deal with property of all kinds, movable and immovable, lands, buildings, apartment undertakings, concessions, manage residential and commercial sheds, houses or enlarge, and other properties convenient for the purpose of property development etc., and its Authorized Share Capital of the Applicant is Rs.7,00,00,0007- divided into 70,00,000 Equity Shares of Rs.10/- each and Paid-up Share Capital of the Applicant is Rs.3,11,02,000/-divided into 31,10,200 Equity Shares of Rs.10/-each. c) The details of Directors as per the Master data maintained by the Ministry of Corporate Affairs including their date of appointment and DIN numbers as on the date of this Application are furnished hereunder: IMAGe 1 d) The Company is Carrying out its business successfully from the date of its incorporation and is conducting the Meetings of Board of Directors as well as General Meetings regularly in Compliance with the provisions of the Companies Act, 1956 as well as the provisions of Companies Act, 2013 whichever is in force at the relevant period. The Company has filed its returns up to the financial year ended 31st March, 2014. with Registrar of Companies, Hyderabad. e) The Company has held its Annual General Meetings for the Financial Years ended 31st March 2015 and 31st March 2016 on 26th September 2015 and on 29th September 2016. The Company has earned a revenue of Rs.33,25,000/- and Rs.37,08,922/- during the financial years 2014-2015 and 2015-2016. The Company is regular in paying its Income Tax and filing the returns with the Income Tax Department. f) The Register of Companies has struck off the name of the applicant Company, from Register of Companies maintained by ROC, under Sub Section (1) , (4) and (5) of Section 248 of the Companies Act, 2013Notice in Form No.STK-1 vide No.ROCH/248(1) /Removal/28285/2017 dated:17.03.2017, Public Notice in Form No.STK-5 vide No.ROC/HYDERABAD/STK-1/Reviseddated:05.05.2017 and Form No.STK-7 vide No.ROC(H) /248(5) /STK-7/2017 dated 21.07.2017. The said notices have given an effect of Striking off and Dissolution of the Applicant Company and the Company's Master Data maintained by the ROC in the MCA portal is also showing the company status as "Strike Off".
(2.) Heard Mr. V. Venkata Rami Reddy, learned counsel for the AppellantCompany and Mr. R.C.Misra, Registrar of Companies.
(3.) Mr.V.V.R.Reddy, learned Counsel for the Appellant raised several objections like notices were not properly addressed, Paper publication was not made against the Appellant Company in leading newspapers as substitute service, filing of Income Tax Returns with the Income Tax Department regularly, and the Annual Returns for the Financial year 2012-13. However, in order of run the business of Company without involving in litigation, the Company is prepared to file all pending Annual Accounts and the annual Returns pertaining to the three Financial Years 2014-15 and 2015-16 within the time stipulated by the Tribunal and also pay the required Compounding Fee / Additional fee in accordance with the Rules. Therefore, he submits that the Tribunal may take a lenient view in restoring the Company's name on the Roll of Registrar of Companies.;