Ch Mohd Sharief Tariq, Member - (1.) Under consideration is a Company Petition that has been filed on 11.12.2017 (13.11.2017) under Section 252(3) of the Companies Act, 2013, by the Petitioner Company viz., M/s. K.Schubert Fiber World Private Limited having CIN No. U17119TN1999PTC042482 and its Registered Office is situated at No. 10, Arundale Beach Road, Kalakshetra Colony, Chennai-600 090. The prayer is made to seek order for restoration of the name of the Petitioner Company to the Register of Companies maintained by the concerned Registrar of Companies.
(2.) The Petitioner Company is a Private Limited Company and was incorporated on 14.05.1999 under the Companies Act, 1956. The Authorised Share Capital of the Petitioner Company is Rs.20,00,000/- divided into 20,000 equity shares of Rs.100/- each. The issued, subscribed and paid-up capital is Rs.20,00,000/- divided into 20,000 equity shares of Rs.100/- each. The main object of the Petitioner Company is as cited in the Memorandum of Association filed before this Tribunal.
(3.) It has been stated that after incorporation, the Petitioner Company has been continuing its business operations. The Petitioner Company has failed to file the Financial Statements and Annual Returns for the period from 31.03.2006 to 31.03.2017 with the Registrar of Companies, Chennai, due to which the name of the Petitioner Company was 'struck off from the Register oF Companies under Section 248(5) of the Companies Act, 2013 read with Rule 3 of the Companies (Removal of Name of Companies from the Register of Companies) Rules, 2016.;