- (1.) This petition is filed by the Applicant Company M/s. Seyon Rentacar Private Limited praying for the restoration of the Company on the Register of Companies maintained by the Registrar of Companies, Bengaluru, Karnataka and for issuance of direction to the Registrar of Companies, Karnataka to restore the name of the Company as originally entered in its Register. The averments made in the Company Petition are as follows: a. That M/s. Seyon Rentacar Private Limited, was incorporated under the Companies Act, 1956 on 5 October, 2012 vide CIN: U63040KA2012PTC066182, as a Private Company Limited by Shares with Registrar of Companies, Bengaluru, Karnataka. b. The Registrar of Companies, Karnataka, Bengaluru the Respondent herein, struck off the applicant Company's name from the Register due to defaults in statutory compliances, namely, failure to file financial statements and annual Returns for the financial year 2014-15 and 2015-16. Consequently, the Registrar of Companies initiated proceedings under Section 248 of the Companies Act, 2013, for the purpose of striking off the name of the Company in the Register maintained by the Registrar of Companies. Copy of the Notification dated 17th July, 2017 issued by the respondent under Section 248 (5) of the Companies Act. c. That the applicant submits that in the event of restoration of the name of the Company in the Register maintained by the Respondent, the applicant Company shall file all outstanding statutory documents i.e. the financial statement and annual returns for the financial year 2014-15 and 2015-16 along with the filing fees and the additional fee, as applicable on the date of actual filing and the certified copy of the Tribunal for the restoration of the name of the Company in the Register maintained by the Registrar of Companies, Bengaluru etc. d. The authorised share capital of the Company is Rs. 1,00,000/- (Rupees one lakh only) divided into 10,000 (Ten thousand only) equity shares of Rs. 10/- (Rupees ten each) and the Issued, Subscribed and Paid Up Capital of the Company is Rs. 1,00,000/- (Rupees one lakh only) divided into 10,000 (Ten thousand only) equity shares of Rs. 10/- (Rupees Ten each) . Copy of the Memorandum and Articles of Association of the Company and the Certificate of Incorporation is annexed herewith and marked as Annexure-1. e. At present the Company is managed by two Directors namely Mr. Jagadish BM (DIN:07061571) and Mrs. SJ Savitha (DIN:05352649) . f. Further, Department of Financial Services, Ministry of Finance on 19th August, 2017 issued letter vide letter No.7/l/2017-B.O.II/stipulating to debit freeze the bank accounts of the Company and the same is annexed hereto and marked as Annexure-3. g. The applicant states that the applicant Company has been active since incorporation and has also been maintaining all the requisite documentation as per the provisions of the Companies Act, 2013 and also filed Income Tax returns in time. The copies of the Income Tax returns filed is also annexed hereto and marked as Annexure-4. h. That it is submitted that the present application is within the limitation period stipulated by Section 252(3) of the Companies Act, 2013 i.e. 20 years. i. The applicant states that the accounts of the applicant Company were finalised and the applicant Company had delegated the work of filing and compliance to one Director namely Mr. Janardhan Kutty, and it was his bounden duty to make payments and file returns to the concerned authority i.e. the Registrar of Companies. However, each time clarifications sought about the filings of all the requisite forms and information to the Registrar of Companies, the said Mr. Janardhan Kutty informed that all the compliances are satisfied. However, the said Mr. Janardhan Kutty resigned from the Directorship on 3rd April, 2017. The same is annexed hereto and marked as Annexure-5. It is submitted that subsequent to his resignation, it was learnt that the filings as required under law were not complied with by Mr. Janardhan Kutty. It is avered that such being the case, it was recently learnt that-''Mr. Janardhan Kutty did not file the requisite forms with the Registrar of Companies within the time. However, the present Directors of the Company had initiated the process of filing of the requisite forms to the Registrar of Companies and further the applicant avers that the accounts and audited financial statements of the Company for the financial year 2014-15 and 2015-16 are ready and the copies of all the balance sheets, profit and loss accounts along with annual returns prepared by the Company have been annexed as Annexure-6. It is submitted that in the meantime the respondent has truck off the name of the applicant from the Registrar of Companies. However, it is also submitted that due to reason of struck off, the Company is not able to perform its obligations to the employees, Banks and other institutions. It is further submitted that the Company is not able to even make payments including salaries to the employees. j. That the applicant submits that in the event of restoration of the name of the Company in the Register maintained by the respondent, that applicant Company shall file all outstanding statutory documents i.e. the financial statements and annual returns for the financial year 2014-15 and 2015/16 along with the filing fees and the additional fee, as applicable on the date of actual filing and the certified copy of the order of the Tribunal for the restoration of the name of the Company to the Register maintained by the ROC Bengaluru. k. That, unless the present application is allowed and the name of the Company is restored on the Register of Companies maintained by the Registrar of Companies, the applicant as well as its employees, creditors and other stakeholders of the Company shall suffer and shall result in irreparable loss and hardship to run the business in the future. l. The applicant declares that the subject matter of appeal falls within the jurisdiction of the Tribunal. m. The applicant further declares that the application is within the limitation as prescribed in the provision of section 252 read with section 433 of the Act. n. The applicant further declares that the matter regarding this application that has been made before this Tribunal is not pending before any Tribunal of law or any other authority of any other Tribunal.
(2.) The Practicing Company Secretary (PCS) further submitted that the Company has filed Memorandum of Association of the Company, HDFC Bank details, IT Returns for the Assessment Year 2015-16, Balance Sheet as at 31.03.2015 and 31.03.2016. The Company is having a turnover exceeding Rs. 50.00 lakhs in the Financial Year 2014-15 and over Rs. 200.00 lakhs in the Financial Year 2015-16 with Profit Before Tax and is also having tangible fixed assets, trade receivables and other current assets as per Enclosures at page Nos. 105 to 128.
(3.) The bank details are from Enclosures at page Nos. 45 to 53. The IT Returns for the Assessment Year 2014-15 and Assessment Year 2016-17 are from Enclosures at page Nos. 55 to 76.;