Rajeswara Rao Vittanala, Member - (1.) The present Company Appeal bearing CA.No.69/252/HDB/2017 is filed by M/s. Nimagadda Surya Teja Agritech Private Limited under section 252 of the Companies Act, 2013, by inter-alia seeking to change the status of the Company to "Active" to enable them to file the annual returns and balance sheets for the outstanding period with ROC.
(2.) Brief facts of the case, as mentioned in the application, are as follows: a) M/s. Nimmagadda Surya Teja Agritech Private Limited (Hereinafter referred to as the Company) is a Private Limited Company incorporated under the provisions of the Companies Act, 1956 in the erstwhile state of Andhra Pradesh (presently the state of Telangana) under the name and style "M/s. Nimmagadda Surya Teja Agritech Pvt Ltd" on 19.03.2004. b) The main objects of the Company as per the MOA of the Company are to carry on the business of purchase, sell, develop agricultural property, take in exchange, for sale or for working the same, in the Union of India or elsewhere, any real or personal estate including lands, mines, plantations, buildings, factories, industrial estates, houses, cottages, farmhouses, holiday resorts, hotels, restaurants, shops, depots, warehouses, mineral rights, etc., and estate of owners and to cultivate, plant, grow, process, manufacture, sell and deal in all agricultural products, including oil seeds, tea, coffee, etc. c) The main obstacle is the Registered Office of the Company is situated at Vanasthalipuram, Hyderabad and the agricultural farms are satiated at a distance of about 70 km from the City and the Managing Director and the Director stay at the agricultural farms only to look after and as such the Company has appointed the accountant to come to the farm and prepare the accounts on part time basis as regular accountants refused to join. However even the part time accountants also did not stick on to the Company as the main evidences, vouchers and accounting events happen at the agricultural farm and the same have to be collected weekly or fortnightly once and the accounts have to be prepared at the registered office of the Company. The main obstacle is the distance in between the Registered Office of the Company and the agricultural farm which is about 70 km, due to this reason the Company could not file the annual returns regularly. d) The Company has filed its annual returns and balance sheets, till financial years 2010-11, and it could not file the subsequent annual returns and balance sheets, as the part time Accountant of the Company, who was dealing with the work, left the employment of the Company. e) A public notice was issued by the Registrar of Companies, Hyderabad proposing to remove/strike off the name of the Company from the Register of Companies in form number STK-5 dated 05.05.2017, in pursuant to the subsection (1) and subsection (4) of section 248 of the Companies Act, 2013, and Rule 7 of the Companies (Removal of names and of Companies from Register of Companies) Rules, 2016. The status of the Company in master data in MCA website showing as strike off, but the name of the Company was not listed in the list enclosed to the public notice of strike off and dissolution in Form No. STK-7 dated 21.07.2017. f) On verification with the MCA, and as per Company's master data, the Company's status is showing as strike off due to non-filing of annual returns and balance sheet since financial year 2011-12. However the Company has filed Income Tax Returns up to 2015-2016 and the Company is running its business, as per entries in balance sheet declared as on 31st March 2016, and the provisional balance sheet as on 31st March 2017. g) As per the balance sheet of 31st March 2016 and perusal of the records there is an income of Rs.2,52,552/- and the revenue from operations is Rs. 10,48,780/- and the employee benefit expenses is Rs.5,42,828/- the provisional balance sheet as at 31st August 2017 shows a profit of Rs.2,07,732 /-and revenue from operations is Rs.6,36,010/- out of its business.
(3.) The case listed for admission on various dates viz: 30.08.2017, 08.09.2017, 29.09.2017, 17.10.2017 & 27.10.2017.;