- (1.) This is an application No. 199/2017 filed under Section 252 of the Companies Act, 2013 (hereinafter called as the Act) filed by M/s.Pancon Properties India Private Limited (hereinafter called as the Company) seeking a direction to the Registrar of Companies, Tamilnadu, Chennai (the ROC) to restore the Company in the Register of Companies.
(2.) Brief averments of the application are that the Company was incorporated on 24.01.2008 in the State of Tamil Nadu and the authorised capital of the Company is Rs.5,00,000/-divided into 50000 equity shares of Rs.10/- each and the issued, subscribed and paid up share capital of the Company is Rs.5,00,000/- divided into 50000 equity shares of Rs.10/- each. The Company is carrying on the business of purchasing and selling of land and building and to construct roads, bridges, dams etc. and to engage in the business of buying, acquiring, trading, selling, transferring or disposing in any manner in real estates, etc. The Applicant personally went through the website and found that the name of the company being struck off from the register of respondent, through notice by Registrar for removal of name of a company from the register of companies dated 7 April 2017 (ROC/CHN/DR(BS) /3/PVT.ACT/STK-5) and Notice of Striking off and Dissolution dated 5th July 2017(ROC/CHN/STK-7/l/2017) for non filing of Balance Sheet and Annual Returns from the financial year 2012-13 onwards. The Company is still carrying on its business and its activities and therefore the present application is filed for restoration of the name of the company in the Register of Companies.
(3.) The petitioner submitted that non-filing of the balance sheet and annual returns from the financial year 2012-13 onwards is due to inadvertence and due to some unavoidable reasons, further the company was not in touch with the person entrusted for filing annual accounts and annual returns, on account of which there were some difficulty in understanding the provided compliances. As a result, the auditor's report, balance sheet and profit and loss account from the year 2012-13 could not be filed. Now they confirms the availability of all audited financial statements upto date and undertakes to update the filing of the pending annual returns and financial statements with the Registrar of Companies within such time as may be allowed. However, action under Section 248 of the Act was initiated by striking off the name of the Company by the Registrar of Companies and consequently the order of struck off was published in the Gazette of India dated 15th-21st July, 2017 in page No.14606 under S.No.2668.;