R.P. Nagrath, Member - (1.) This petition has been filed by moving application in terms of subsection (3) of Section 252 of the Companies Act, 2013 (for brevity, the 'Act') read with Rule 87 A of the National Company Law Tribunal Rules, 2016 (for short, the 'Rules') as inserted vide notification dated 5th July, 2017 by way of amendment in the Rules. The petition has been filed by the petitioner through its Promotor Director-cum-Shareholder Mr. Sat Pal Sethi. The registered office of the petitioner-company is situate at Phagwara in the State of Punjab and, therefore, the matter falls within the jurisdiction of this Tribunal.
(2.) The petitioner-company was incorporated on 30.11.1994 under the Companies Act, 1956 and allotted CIN U31200PB1994PTC015377 as a private limited company. Annexure P-1 (Colly) is the Memorandum and Articles of Association of the company. The company was founded with the objects of carrying on business of: - a) all kinds of switch gears, switches, relays, alarms, indicators, controllers, regulators, electrical and electromechanical accessories, gadgets and any other mechanical, electrical or electronic goods, components and parts thereof. b) all kinds of tools, tool accessories, productivity gadgets, metal and plastics components, lamination and stamping, finished devices and spare parts etc.
(3.) The authorised share capital of this company is Rs. 25,00,000/- divided into 25,000 equity shares of Rs. 100/- each. The issued, subscribed and paid up capital of the company is Rs. 1,41,000/- divided into 1410 equity shares of Rs. 100/- each. The company remained operative for more than three years and has no assets and liabilities. The company thus applied to the Registrar of Companies, Punjab at Chandigarh for Fast Track Exit (FTE) by making online application for voluntary striking off its name. The e-FTE form was accepted and the name of the company was struck off from the register of companies. Copy of FTE e-form is at Annexure P-3. A perusal of FTE eform (Annexure P-3) shows that it was filed with the Registrar of Companies, Punjab and Chandigarh on 17.02.2016 based on the resolution of the company dated 08.02.2016.;