Rajeswara Rao Vittanala, Member - (1.) The Present Company Application bearing CA.No.166/252/HDB/2017 is filed by the M/s. Krishna Godavari LNG Terminal Private Limited & 04 others, under Section 252 (3) of the Companies Act, 2013, by seeking following reliefs: a. to set-aside the Order passed by the Respondent vide notice no. ROC (H) /248(5) /STK-7/2017 dated July 21, 2017 striking the name of the Applicant Company; b. to direct the respondent to restore the name of the applicant company to its Register; c. to direct for placing the Applicant Company and other person in the same position as nearly as may be as if the name of the Applicant Company had not been struck off; d. to grant the applicants, time of 15 (Fifteen) days for making all necessary compliances and for filing all necessary forms with the respondent;
(2.) Brief facts of the case, as mentioned in the application, are as follows: a. M/s. Krishna Godavari LNG Terminal Private Limited (hereinafter referred to as the Company) was incorporated under the Companies Act, 1956 on 24.05.2013 as a Private Limited Company with the Registrar of Companies, Hyderabad. The Registered office of the Company is situated at Plot No. 54, Do. No.9-1-152/A/3, 3rd Floor, Opp: Patricks High School, Rezimental Bazar, Secunderabad-500003. b. The main objects of the company is to carry out the activities Importer of liquefied natural gas (LNG) , a provider of regasification services, and a developer of unique market access points around the world. Develop sea ports for LNG operations suiting for Floating Storage Regasification Units. Develop prerequisite infrastructure, handling equipment and marine pipelines. Implement a dockside or offshore buoy or gateway technologies for LNG to Regasified Natural gas operations and transport the Regasified Natural gas via marine pipelines connecting to the shore based pipelines. To develop land based marine pipeline infrastructure, and Floating regasification UNIT is setup on a floating Barge and is secured with dolphin mooring system and other business and is to provide Floating Regasification on a Barge. c. The Company is in amidst of its ongoing Project ("LNG terminal Project") which will be located offshore of the Port of Kakinada in the Eastern Indian state of Andhra Pradesh. The Project comprise the Marine Terminal, which shall include a natural gas submarine pipeline and onshore receiving facilities, the FSRU, and a floating storage unit (the "FSU") . The project will accommodate LNG carriers (each, an "LNGC") with capacities ranging from 75,000 to 175,000 cubic meters. The Project will have processing capacity of approximately 4.0 million tons per annum ("mmtpa") . The Company will allow trading LNGCs to dock and offload LNG to the adjacent, moored FSU. The LNG will be then transferred from the FSU to the FSRU for temporary storage, regasification and export to shore via the subsea pipeline. The subsea pipeline will interconnect with the existing natural gas grid in India, allowing transport of natural gas to industrial users in Andhra Pradesh and to other Indian end users. d. The Company has not filed Annual Returns for the financial years 2014-15 and 2015-16. Hence the Company was served STK-7 notice vide ROC (H) /248(5) /STK-7/2017, U/s 248 dated 21.07.2017 of the Companies Act, 2013 for non-filing of Annual Returns. e. The Company is Carrying out its business successfully from the date of its incorporation and is conducting the Annual General Meetings regularly in Compliance with the provisions of the Companies Act, 1956 as well as the provisions of Companies Act, 2013, whichever is in force at the relevant period, and the Company has filed the Income Tax returns with the Income Tax Department regularly. f. The Annual Accounts and the Annual Returns pertaining to only two financial years i.e. 2014-15 and 2015-16 are to be filed. The applicant shall be able to complete its filing of pending Annual Returns and Financial Statements, upon granting of the prayers stated in this application, and when the name is restored and change its status from 'Strike Off to 'Active' in the Register of Companies maintained by the ROC and change . g. It is running its services and balance sheet showing the Assets and Liabilities of the Applicant company for the financial years 31.03.2015, 31.03.2016 are revenue from operations is Nil and Employee Benefit Expenses is Rs. 1,32,000/- and Rs.96,000/-. h. The Company has commenced business in the recent past and it is ready to file its pending returns and income tax returns as required under the act and requesting to change the status of the Company to active from strike off and give such directions to the Registrar of Companies.
(3.) The case is listed for admission on 17.10.2017 & 27.10.2017;