- (1.) This Petition is submitted on 12.10.2017 with the Prayer to restore the name of the Company by the Registrar of Companies, Pune by passing an Order under section 252 of the Companies Act, 2013.
(2.) A report of the RoC, Pune dated 22.11.2017 is on record, according to which the Petitioner Company had failed to file Statutory Returns (Annual Return and Balance Sheet and Financial Statement) for the accounting period ended on 31.03.2015 and 31.03.2016. It is intimated in the Report that the Ministry of Corporate Affairs, vide letter No, 3/53/2017-CL dated 17/02/2017 issued order to the RoC to initiate action under section 248 of the Companies Act 2013 against those companies which have failed to file statutory returns i.e. Annual return and financial statement for immediately two preceding financial years. Pursuant to the provisions of section 248 a Notice was issued in writing (Form STK-1) dated 11.03.2017 to the Company and to all the Directors intimating the default under section 248(1) of the Companies Act. According to the Report, it was intimated that the Notice was issued on the ground that the Company had not carried on the business or any operation for a period of two years immediately preceding the financial year and also not made any Application within such period for obtaining the status of a "dormant" Company as prescribed under section 455 of the Act. No reply was received from the side of the Company. According to RoC the Company had failed to submit its annual return for the period 2014-15 and 2015-16 hence contravened the provisions of section 92 and section 137 of the Companies Act. As a result, the Learned RoC Pune invoked the provisions of section 248(5) of the Act by striking off the name from the Register of Companies. It was published in the official Gazette on 22.07.2017 vide No.166 GI/2017(Form STK-7) and it also placed on the official website of the Ministry of Corporate Affairs on 11.07.2017. Being aggrieved, this Petition is filed by the Company challenging the action of the Learned RoC.
(3.) From the side of the Applicant Learned A.R. Ms. Prachi Wazalwar represented the Petition and informed that the Company was incorporated on 15th February 2010 having his Registered Office at Satara Road, Pune to carry on the business of infrastructure development such as building of Roads, Bridges, Commercial Apartments, Hotels, Residential Houses, etc. The authorised share capital was Rs.10 lakhs, however, the paid-up capital was XI lakh only of Equity Shares of Rs.10/- each. Four Promoter Directors were appointed each having 25 shares in number. It was an admitted factual position that the Company was struggling to get the business. However, according to Learned Representative, it is a going concern and expected to get an order for civil works from one of its client Mudrai Multi Facilities Services Private Limited and therefore received an amount of Rs.75 lakhs in advance. The evidence of receipt of the said amount in advance for Work Order is stated to be annexed with the Petition. Our attention has been drawn that on receiving the advance the Petitioner Company in turn had also made an investment towards purchase of land and advanced money as per the following description. 3.1 The Learned Representative has further pleaded that if permitted the Company is ready to file the Financial Statements. Due to struck off, the Company is facing hardship in execution of the said order. Learned Counsel has further pleaded that great loss will be caused if the name is not restored by RoC, Pune. It has also been pleaded that for the accounting period ended on 31.03.2016, the Company still had the time to submit the annual statement, although belatedly, as prescribed under section 403 of the Companies Act. Without waiting for the extended period of 270 days the Learned RoC had struck off the name for financial year 2015-16. The action of the RoC is, therefore, subject to appeal as prescribed under section 252(1) of the Act.;