K. Anantha Padmanabha Swamy, Member - (1.) This is an application filed above company under section 252(3) of the Companies Act, 2013 (hereinafter called as the Act) filed by M/s. Kovil Nagaram Benefit Fund Limited, seeking a direction to The Registrar of Companies, Tamilnadu, Chennai (the ROC) to restore the Company in the Register of Companies.
(2.) Brief averments of the application are that the Company was incorporated on 12.09.2011 in the State of Tamil Nadu and the authorised capital of the Company is Rs.50,00,000/-divided into 50,00,000 equity shares of Rs.l/- each and the paid up capital of the Company is Rs.35,02,210/- divided into 35,02,210 equity shares of Rs.l/- each. The Company is engaged in the business of to lend, grant loans to the Members / Shareholders of the company on the security of Immovable Properties such as Land & Buildings and Movable Properties such as Gold, Silver, Jewellery, Fixed Deposits, Kisan Vikas Patras, Deposits under National Savings Certificates, Insurance Policies and Government Securities and on such other Securities as may be permitted by the Regulatory Authorties of the Government of India from time to time and upon such terms and conditions including rate of interest as may, from time to time, be decided by the Board of Directors and to sell, dispose off, transfer such securities as and when necessary mentioned in clause III(A) of its memorandum of association of the Company.
(3.) The Company has not filed its Balance Sheets and Annual Returns for only the year 2013-14. The reason given by the Company for non-filing of returns is that the staff of the Applicant Company, who is responsible for the filing of returns with the Registrar of Companies, had left the Company suddenly.;