Rajeswara Rao Vittanala, Member - (1.) The present Company Application bearing CA.No.198/252/HDB/2017 is filed by Jaydurga Decor Private Limited, represented by its Director Ms.Monika Agarwal under Section 252(3) of the Companies Act, 2013 R/w Rules, 2016 Rule-87A of the NCLT(Amendments) Rules, 2017, by inter alia seeking to direct the Respondent to restore the name of the Appellant Company in the Register of Companies maintained by the Registrar of Companies, Andhra Pradesh and Telangana; to place the Applicant Company such as Directors, shareholders, employees, Employees and all other related to the Company, in the same position as the Company had not been struck off from the Registrar of Companies etc.
(2.) Brief facts of the case, as mentioned in the instant application are as follows: a) M/s. Jaydurga Decor Private Limited (which is referred to as Company herein after) was incorporated on 19.03.2013 under the Companies Act, 1956 (CIN U17120AP013PTC086498) with an Authorised Share Capital ofRs. 1,00,000/- (Rupees One Lakh only) divided into 10,000 (Ten Thousand) Equity Shares of Rs.10/- each and altogether and there are five shareholders, holding 2000 shares.each in the Company and all of them are its Directors. b) The main objects of the Company is to carry on the business of manufacturing, buying, selling, and dealing in textiles, cotton, handloom cloth, silk, art silk, rayon, nylon, synthetic fibers, staple fibers, polyesters, worsted, wool, hemp and other fibre an fabric materials, yarn, cloth, linen, rayon and other goods or merchandise whether textiles felted, netted or looped used for domestic, commercial or industrial use. It undertake jobs as interior and exterior designers, decorators, furnishers, cleaners, repairers and render services in all other auxiliary fields as may be required in connection with the interior decoration of flats, bungalow, row houses, all residences, private and public office, shops, government department, stores, cinema houses, factories by any individual or corporation company and commercial premises. c) There are Five Directors in the Company and all are not disqualified under Section 164(2) of the Companies Act, 2013 and the details are as follows: d) The Company has filed their Income Tax Returns for the Assessment Year 2014-15, 2015-16 and 2016-17 and Income tax paid for an amount of Rs.12,42,771/-, Rs.14,54,880/- and Rs.18,01,400/- respectively. The Company is complying with all the provisions of the relevant Acts but it could file annual accounts and annual returns for year 2013-14, 2014-15 and 2015-16 financial years which is neither wilful nor wanton but only due to ignorance / did not seek for any professional advice. e) The Company is owner and possessor of the property admeasuring 15,418 sq.mtrs., situated at Apparel Export Park, Gundlapochampally having purchased the same under Registered Sale Deed vide Doc. No. 5966 of 2013 dated 31.10.2013. It is genuinely doing business entity in the field of soft furnishings and has been supplying curtain cloth and sofa cloth regularly to over 500 dealers in across India since last four years. It is not a shell Company and never deposited a single pie in its Bank Account during Demonetization. In this connection, HDFC Bank has issued a Confirmation Certificate dated 10-10-2017 stating that "Jaydurga Decor Private Limited, A/c.No. 10417630001591 has not deposited any SBN notes in their account during Demonetization period from 09-11-2016 to 30-12-2016".The Company accepts default of compliances with Registrar of Companies due to ignorance and undertakes to rectify the same and never repeat the said irregularity in future. Company is ready to comply with the compliances and Hon'ble Tribunal may allow the application in ease of doing business. .
(3.) Heard Ms.D.SiriPreeti, Learned Counsel for Applicant Company and perused all the pleadings filed in support of application along with extant provisions of the Companies Act 2013.;