- (1.) The present Company Application bearing No.193/252/HDB/2017 is filed by Mrs. Vandana Sharma, Promoter Director of the Appellant Company under Section 252(1) of the Companies Act, 2013, by inter alia seeking the Tribunal: a) To restore the name of M/s. VAV Management Services Private Limited in the Register Under Section 252(1) of the Companies Act; and b) To grant 2 months' time from the date of the order to complete the pending Annual filings i.e., Annual Reports and Annual Returns.
(2.) Brief Facts: a) The Appellant Company was Incorporated on 22.10.2010 under the Companies Act, 1956 with an Authorised Share Capital of Rs. 10,00,000/- ( Rupees Ten Lakhs only) and paid up Capital of Rs. 1,00,000/- (Rupees One Lakh only) by the Promoters Viz. Mr.Aryandera Sharma and Mrs.Vandana Sharma and they are the Promoter Directors of the Company as well. b) The said Company was incorporated to carry out the business and to provide advice, services, consultancy in various fields, general, administrative, secretarial, commercial, financial, legal, economics, labour, Industrial, public relation, scientific, technical direct and indirect taxation and other levies etc.
(3.) The Appellant submits that the Company is fully operational, however the operations are not so fruitful during the financial year 2014-15 and 2015-16. The Company has filed Financial Statements and Annual Returns up to the Financial Year 2013-14 and the non-filing of Financial Statements and Annual Returns for the Financial Years 2014-15 and 2015-16 is purely inadvertent and unintentional omission on the part of the Company. Further submits that they will adhere legal compliances and provisions, and planned to complete all pending Annual Filings of the Company;