Mohd Sharief Tariq, Member - (1.) Counsel for Applicant present. Counsel for RoC present. The Applicant Company has defaulted in filing the Balance Sheets, Annual Returns for three years with effect from 2015 to 2017, due to which the name of the Company has been struck off from the Register of the Companies maintained by the concerned Registrar of the Companies. The Applicant submitted that there are Fixed Assets and due to some oversight the Returns for the period of three years could not have been filed. However, the Income Tax returns have been filed that reflect the payment of the tax by the Applicant Company. The objections have been filed by the RoC.
(2.) Heard, both the Counsels. Perused the records. In the facts and circumstances of the case, the Application is allowed. RoC concerned is directed to restore the name of the Company to the Register of the Companies maintained by him. The Applicant is directed to file all the pending Balance Sheets and Annual Returns within the time as may be given by the RoC. The Applicant shall pay a fine amounting to Rs.10,000/-. The Applicant is also directed to file an affidavit to the effect that no tainted money has been deposited to the account of the Company during the period of demonetization. Accordingly, the Application stands disposed of.;