- (1.) The present Company Application bearing CA No. 125/252/HDB/2017, is filed by M/s. Read Abroad Consultants Private Limited (Applicant / Company herein) , under Section 252(3) of the Companies Act, 2013, R/w National Company Law Tribunal Rules, 2016 and Read with Rule - 87A of the National Company Law Tribunal (Amendment) Rules, 2017, by inter-alia seeking to set aside the order of the Respondent with regard to striking off the name of the Applicant Company from the register of companies; restoring name of the Respondent Company etc.
(2.) Brief facts, leading to filing of the present Company Application, are as under:- (a) M/s. READ ABROAD CONSULTANTS PRIVATE LIMITED, was incorporated under the Companies Act, 1956 on 13th June 2008 vide CIN U93000TG2008PTC059934, as a private company limited by shares with Authorised capital of Rs. 1,00,000/- (one Lakh Only) and the issued subscribed paid up and called up capital of Rs. 1,00,000/- (One Lakh only) divided into 10,000 shares of Rs. 10 each. (b) The Applicant's main business objective is providing admission services to the universities located abroad. The Company earns major revenue in foreign currency. (c) At present the company is managed by three Directors namely • Mrs. Vandana Mehra (Managing Director) having DIN-02238851 • Mr. Keshav Mehra(Director) having DIN-02238827 • Mrs. Urvashi Suri(Director) having DIN-02238862 (d) It is submitted that the Company has organized an Extraordinary General Meeting and passed a Resolution that the company would appoint an authorised person in the matter of Restoration of name of the company in the records of Register maintained by the Registrar of Companies. (e) The applicant company is active since its incorporation and performing the business transactions till date. (f) The company is holding all the Annual General Meetings within the stipulated time as per the prescribed rules of Companies Act 2013. (g) It is also maintaining all the requisite documentation as per the provisions of the Companies Act, 2013, and the books of the company are audited by K. Rambabu 85 Co. as per the provisions of the Companies Act, 2013. (h) The above company is working as recruitment consultant for Australian Universities. It has professional Membership with the Association of Australian Education Representatives in India (AAERI) . (i) The company has filed all the Income Tax returns of the previous years and has no pending returns to be filed till date. (j) The Registrar of the Company (ROC) i.e. Respondent herein, has struck off the name of the company from its register, due to defaults in Statutory Compliances, namely failure to file financial statements and Annual returns for the period 1st April 2014 to 31st March 2016 i.e. 2years. Consequently, the Registrar of companies has initiated proceedings under section 248 of the Companies Act, 2013, for the purpose of striking off the name of the company from the Register maintained by the Registrar of the companies, Hyderabad. (k) Ms. Vandana Mehra, Managing Director has been running the day to day affairs of the company and attending all matters relating to the company and explained the personal reasons for not filing the financial statements and Annual returns on time. She further submits that in the event of revival of the company and restoration of the name of the company in the register maintained by the Registrar of Companies, it shall file all the outstanding statutory documents i.e. the financial statements and annual returns for the period 1-April-2014 to 31-March 2017 along with the filing fees and the additional fee, applicable on the date of actual filing. (l) She further states that the object of section 252(3) of the Companies Act is to give a chance to the company, its members and directors to revive the company which is struck off by the Registrar of Companies and to give them an opportunity to carry on the business. (a) Hence, prays this Tribunal to allow the appeal and to restore the name of the company on the Register maintained by the Registrar of Companies, else the Shareholders as well as the Directors will suffer irreparable loss and hardship.
(3.) Heard Ms. Vandana Mehra, Managing Director of the Applicant Company.;