- (1.) The Present Company Application bearing CA. No. 126/252/HDB/2017, is filed by Greenrays Enersol Private Limited under section 252 of the Companies Act, 2013, R/w Rule 87A of NCLT Rules, 2016 by inter-alia, seeking the following reliefs: a. To direct the Respondent to forthwith rescind, cancel and/ or set aside the order of striking off the name of the Company from the Register of Companies. b. To Direct the Respondent to forthwith restore the name of Company in the Register of Companies and to effect the restoration in the official website maintained by the Ministry of Corporate Affairs, Government oflndia. c. To allow filings of Audited Balance sheets, Annual Returns and other documents for the financial year ended 31st March 2013, 31st March 2014,31s1 March 2015 and 31st March 2016 with the Respondent.
(2.) Brief facts mentioned in Application: i. The Appellant Company was incorporated on 01.05.2012. The Authorized 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 Only) each. The current 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 Only) each. The Company has around 60 permanent employees since three years and regular in payment of all statutory dues towards PF, ESIC, and PT etc. In addition the Company also hire contract labour of more than 100 workers for execution of projects in hand. ii. The Company has been carrying on business of installation, supply and maintenance of renewable energy solutions using all forms of natural resources and to design, develnn. set un or establish, assemble, operate and maintain plant and machinery and all other apparatus or installations of renewable and nonrenewable power generating projects and associated transmission and related civil works in line with main objects of the Company etc.. iii. The Registrar of Companies, Andhra Pradesh and Telangana, the Respondent herein has issued a public notice vide ROC/HYDERABAD/STK-1/ Revised dated 05.05.2017 in Form No. STK-5 for removal of name of the Company from the Registrar of Companies of the grounds that the Company has not commenced its business within one year of its incorporation or the Company is not carrying on any business or operation for a period of two immediately preceding financials year and has not made any application within such period for obtaining the status of dormant company Section 455. iv. In response to the public notice of Respondent dated 05.05.2017, the Appellant Company vide its letter dated 29.07.2017 intimated to the Registrar of Companies, Andhra Pradesh and Telangana, that the Appellant Company is carrying on the business, and requested the Registrar of Companies to revive and keep the Company in the active status to enable it to file the pending Annual Returns and Financial Statements. A copy of letter dated 29.07.2017 addressing to Registrar of Companies was also submitted. v. The Company has been carrying the business operations since Incorporation. However, because of non- filling of annual financial statements and Annual Returns for the preceding two financial years or more, the Respondent has presumed that the Company has not undertaken any business. The Balance Sheet, statement of profit and loss and notes to financial statements for the financial years ended 31st March 2013, 31st March 2014, 31st March 2015 and 31st March 2016 evidencing the continuance of operations are attached. The Management of the Appellant Company has focused fully on the business of setting up Solar Power Generation Plants for Government and Private Sectors, which is in line with Prime Ministers' objective of providing electricity for all across the country and the Appellant Company has made significant progress in the business over last 5 years and have also made efforts to comply with various requirements. vii. The Appellant Company further states that it has also conducted its Annual General Meetings for the Financial Years ended 31st March 2013, 31st March 2014, 31st March 2015 and 31st March 2016 on 30Lh September 2013, 29th September 2014, 29th September 2015 and 29lh September 2016 respectively in compliance of the provisions of the Companies Act, 1956 and of the Companies Act, 2013. viii. The filings of Income Tax returns with Income Tax Department were completed with the Income Tax Department till the Financial year 2015- 2016 and also completed assessment process for the Financial Year 2013- 2014 successfully. ix. It is submitted by the Appellant Company that the Annual Financial statements and Annual Returns with Registrar of Companies were delegated to a consultant to ensure due compliance and Appellant Company was under the impression that all the required returns of the Company under the Income Tax Act and Companies Act were filed by the Consultant till the public notice issued under Section 248 of the Companies Act, 2013 by the Registrar of Companies is seen. x. Thus, it is stated that since the Company is carrying its business operations, it will not fall under the criteria of Section 248 of the Companies Act, 2013 to declare it as defunct and to strike off the name of the Company from the Register of Companies. xi. The Appellant Company passed Board Resolution dated 13.09.2017 to make an application for restoration of name authorised Director of the Company to take necessary steps in this regard.
(3.) The case was first listed on 09.10.2017, the Ld. Counsel for Appellant Mr. Darga Mabu Basha (PCS) submitted that he would comply with the objections raised by the Registry and requested time. Accordingly the case was posted on 18.10.2017.;