Rajeswara Rao Vittanala, Member - (1.) The Present Company Application bearing CA. No. 160/252/HDB/2017, is filed by Care Biologicals Private Limited under section 252(3) of the Companies Act, 2013, on 29.09.2017 by inter-alia, seeking the following reliefs: a. To pass appropriate order for restoration of the name of the applicant in the Registrar of Companies, Andhra Pradesh and Telangana. b. To pass appropriate order for the placing the applicant as nearly as may be as if the name of the Applicant had not been stuck off. c. To grant early hearing in the matter. d. To pass such other or orders as deemed fit and proper in the circumstances of the case.
(2.) Brief facts, leading to filing of present Application,are as follows:- (a) M/s. Care Biological Private Limited, (herein after referred to as Company) was incorporated as a Care Biologicals Private Limited in the state of Telangana, on 11.11.2010. Its Authorized share capital is Rs. 5,00,000 /- (Rupees Five Lakh only) divided into 50,000/- (Fifty Thousand only) Equity shares of Rs. 10/- (Rupees Ten only) each. The current issued, subscribed and paid-up capital of the Company is Rs. 5,00,000/- (Rupees Five Lakhs only) divided into 50,000/- (Fifty Thousand only) equity shares of Rs.10/- (Rupees Ten only) each. (b) The main objects of the Company, as mentioned in the Memorandum of Association, in brief, are to manufacture, import, export, buy, sell and deal in chemicals, pharmaceutical, biological, microbiological products, essential oils, crude drugs, family planning devices, manufacturing wide range of human medicines, drugs, vaccines, biological and pharmaceutical products, including Biotechnology, DNA Recombinant Technology and Conjugation Technology and commercialising such technologies etc.p (c) The Registrar of Companies, Andhra Pradesh and Telangana, the Respondent herein has issued Notice dated 19.08.2017 in Form STK-7 to the applicant company for removal of the name of the Company from the Registrar of Companies on the grounds that the Company had not carried on any business or operation for a period of two immediately preceding financial years and had not made any application within such period for obtaining the status of dormant Company under Section 455. (d) On receipt of the notice, the Directors have assigned the responsibility of completing the filings of the Financial Statements and Annual Return for the financial year ended 31st March 2014, 31st March 2015 and 31st March 2016 to the accounts officer. However, the accounts officer failed to file the same and the Directors were under the impression that the same have been filed. (e) The Applicant came to know that Registrar of Companies, Andhra Pradesh and Telangana, has struck off the Applicant's name vide Notice No. ROCH/248 (1) / Removal/71157/2017 dated 05/05/2017. (f) The Applicant states that the Company has filed its Financial Statements and Annual Returns up to financial year ended 31st March 2013. (g) The company has following assets as on 31st March 2013: (i) Tangible Assets Rs. 8,09,237 (ii) Intangible Assets Rs. 1,81,896 (iii) Capital Work-in-progress Rs. 1,01,84,745 The company is carrying out its Research and Development activities and applied for various Patents. However, due to paucity of funds, the Applicant did not carry out any business during the financial year ended 31st March 2016. However, the Applicant has commenced operations again in the financial year 2016-2017 onwards. The Company has spent on marketing and R&D works and the Company has also obtained registration/applied for registration with various authorities. (h) The Company passed Board Resolution dated 01.09.2017 to make an application for restoration of name before Hon'ble National Company Law Tribunal (NCLT) and authorised Director of the Company to take necessary steps in this regard. (i) It is stated that none of the Creditors/Shareholders or any person at large will be prejudiced if name of the Company is restored in the Register of Company, maintained by the Registrar of Companies.
(3.) I have heard Shri Manoj Kumar Koyalkar (PCS) for Company ! and Shri Ramesh Chandra Mishra Registrar of Companies and also carefully perused all the documents and ROC Report Ref: ROCH/LEGAL/SEC252/71157/CB/STACK/2017 dated 02.11.2017 along with extant provisions of Companies Act, 2013.;