- (1.) The Present Company Application bearing CA. No. 73/252/HDB/2017, is filed by Sri Balaji Hollow Bricks & FRC Covers Private Limited under section 252 of the Companies Act, 2013, by inter-alia, seeking to restore the name of the company in the Register of Companies and further grant time for filing closure of the Company in Form STK-2 along with requisite attachments and permit the Applicant Company to comply with the provisions of Companies Act, 2013. Brief facts mentioned in Application: i. The Applicant Company was incorporated in Hyderabad on 26.02.2010. 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. ii. The main objects for which the company was incorporated, as given in the Memorandum of Association are as under: a. To carry on in India or elsewhere the business to manufacture, produce, process, repairs, press, mould, convert, design, develop, draw, tescour, import, buy, sell, manipulate, retread, disinfect, cut to size, transport or to act as agent, broker, franchiser, stockiest, distributor, advisor, consultant, marketing agent, sales promoter or otherwise to deal in all sorts and varieties of Hollow Bricks and FRC Covers, reinforce concrete Hollow Bricks, marbles, all types of cement works in all its branches such as heavy bricks, RCC Manhole Chambers and solid, cement RCC pipes nylon pipes, iii. It is submitted by Applicant Company that due to some operational issues and financial crises, the Applicant company couldn't continue its business so effectively, however, recently the Company has received new projects and wished to continue the business of the company and was in the process of the same. But the Registrar of Companies has strike off the Company on 28th June, 2017 without any prior notice. iv. Thus this Company Application is filed by the Applicant with the intention to get the Name of the Company restored in the Register of Companies by following required procedure under Companies Act, 2013. v. The Applicant Company passed Board Resolution dated 17.07.2017 to make an application for restoration of name before Hon'ble National Company Law Tribunal (NCLT) and authorised Managing Director of the Company to take necessary steps in this regard.
(2.) The case was first listed on 31.08.2017 for admission, and the Ld. Counsel Shri Ch. K. Venkat Reddy (PCS) for Petitioner was heard. The Registry raised certain objections and the Ld. Counsel for the Petitioner submitted that he would comply with all objections. He was also directed to take personal notice to ROC and submit proof of the same and the case was posted on 27.09. 2017.
(3.) On the date of hearing on 27. 09. 2017. The ROC addressed a letter dated 26. 09. 2017 by stating that the Applicant be directed to submit last 2 years audited Balance Sheet along with fee to verify the affairs of the Company. The Ld. Counsel for the Petitioner submits that he would submit the same immediately. ROC was also directed to submit its report in accordance with prescribed rules. Case was posted on 16.10.2017.;