Delhi High Court
M/S Posh Exports Private Ltd vs The Registrar Of Companies on 16 December, 2014
Author: Sanjeev Sachdeva
$~30
*IN THE HIGH COURT OF DELHI AT NEW DELHI
+ CO.PET. 207/2014
M/S POSH EXPORTS PRIVATE LTD. ..... Petitioner
Through: Mr. Manoj Kumar Garg,
Advocate.
Versus
THE REGISTRAR OF COMPANIES ..... Respondent
Through: Mr. Atma Sah, Asst. ROC
CORAM:
HON'BLE MR. JUSTICE SANJEEV SACHDEVA
ORDER
% 16.12.2014
1. The present petition has been filed under Section 560(6)
of the Companies Act, 1956 for restoration of the name
of the company M/s Posh Exports (P) Ltd in the
Register of the Registrar of Companies.
2. The Petitioner Company was incorporated vide
certificate of incorporation dated 12.05.1997, as a
private limited company.
3. It is contended that Petitioner Company was
incorporated in the year 1997 and is an old company and
was doing business of sale, purchase & trading of
Textile, Fabrics, Handloom & General Goods under the
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name and Style of "Posh Exports" continuously without
any interruption and it is continuously doing business
till date.
4. It is stated that the shareholders and directors have
passed a Resolution seeking revival of the Company as
in the present business scenario there is a possibility of
doing good business and procuring good business in
construction segment.
5. The Board of Directors in the meeting held on
20.02.2014 has come to know that the necessary
documents had not been filed with the Register of
Companies and further decided to take steps in the
present petition and seek revival of the company. The
Board of Directors have undertaken to make the
statutory compliance and file the requisite statutory
records and the balance sheets in accordance with law.
6. When the documents i.e., Annual Returns and Balance
Sheet, etc., were sought to be filed on website of the
Ministry of Corporate Affairs, the Directors came to
know that name of the Petitioner Company has been
struck of for the failure to file requite statutory
documents.
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7. Further, it is submitted that the name of the Company
was struck off vide notice dated 23.06.2007. The
Petitioner Company has contended that the balance
sheets of the Petitioner Company were prepared from
time to time, however, it was only recently discovered
that none of the Balance Sheets and the statutory records
have been filed with the Registrar of Companies. It is
contended that the accountant did not co-ordinate and
further the learned Counsel for the Petitioner Company
submits that the part time accountant of the Company
who was dealing with the aforesaid work, left the
employment of the Petitioner Company.
8. The notice was issued to the Registrar of Companies
who has filed a reply disputing that procedure was not
followed. It is contented that the procedure was dully
followed and due intimation and notice was given to the
Petitioner Company prior to striking off the name of the
Petitioner Company.
9. The Registrar of Companies has submitted that the
Petitioner Company has not filed its statutory
documents since its incorporation i.e., Annual Returns
from the years 1999 to 2006 and Balance Sheets for the
years 1999 to 2006. Accordingly, the notice dated
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31.05.2007 was issued striking off the name of the
Petitioner Company from the Register of Registrar of
Companies under section 560(5) of the Companies Act,
1956. Further, it has been submitted that the Petitioner
Company has not filed its statutory documents i.e.,
Annual Returns from 1999 to 2013 and Balance Sheets
for the years 2000, 2003 to 2013 and also that the
Petitioner Company has made the default for non-filing
which is the contravention of section 159/220 of the
Companies Act, 1956.
10. The Petitioner Company has filed its affidavit that the
non-filing of the aforesaid Annual Return and the
Balance Sheets was because the part time Accountant of
the Petitioner Company, who was dealing with the
aforesaid work, left the employment of the Petitioner
Company.
11. In view of the Affidavit filed by the Petitioner
Company, the Registrar of Companies does not have
any objection with the restoration of the name of the
company subject to the filing of all statutory documents
i.e., Annual Returns from the years 1999 to 2013 and
Balance Sheets as on 2000, 2003 to 2013 and also the
other documents with the requisite fee as well as
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additional fee as applicable on the date of actual filing
of the documents.
12. In view of the above, the petition is allowed subject to
payment of costs of Rs. 75,000/-, the name of the
Petitioner Company is restored on the Register of the
Registrar of Companies subject to the Company filling
all the statutory documents and returns for the
outstanding period along with the prescribed fees in
accordance with the law.
13. Accordingly, upon payment of costs of Rs.75,000/-
within a period of two weeks from today, name of the
Petitioner Company shall stand restored.
14. On receipt of the cost, the Registrar of Companies shall
change the status of the company as "Active". The
petitioner shall thereafter make the necessary statutory
compliances and file the statutory documents with the
requisite fee and additional fee as applicable.
The petition is, accordingly, disposed of.
SANJEEV SACHDEVA, J
DECEMBER 16, 2014/sv
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