1. This present Petition has been filed under Section 252 (3) of the Companies Act, 2013 (Act) by INNOVATIVE DATA SOLUTIONS PRIVATE
LIMITED through its Director Mr. Chetan Shivakant Panday praying for restoring the name of the company in the Register maintained by the
Registrar of Companies, Mumbai (RoC).
2. The Petitioner submits that the Petitioner company has been incorporated to carry out the following objects:
“To act as a consultant in the field of information technologies and provide information technology enabled services like call center
management, medical and legal transcription….â€
3. The Petitioner submits that the company was incorporated on 14.02.2015 under the Companies Act, 2013. The Company has failed to file its
Financial Statements and Annual Returns for the Financial Years ending 31st March 2016, 2017 and 2018 i.e for three years.
4. The Petitioner submits that the Petitioner Company was unable to file the financial statements due to inadvertence on the part of senior officials of
the company who were responsible for carrying out such procedural functions.
5. The Petitioner submits that the Company is active since incorporation and is also maintaining all the requisite documents as per the provisions of the
Companies Act, 2013.
6. The Petitioner further submits that the Company was in operation at the time of publication of the notice of strike off and has been carrying out the
essential corporate procedures. Further the Petitioner submits that the Company has been filing timely Income Tax Returns with the Income Tax
Department.
7. The Petitioner submits that functional bank account is maintained with ICICI Bank, the bank account statement has been placed as Annexure-G at
page 164-233 of the Petition.
8. The Statutory Auditor’s Report reflects the business details and financials of the Company.
9. The Petitioner Company has enclosed the audited accounts for the Financial Years 2016-2017, 2017-18 and 2018-19 to show that it is actively
involved in the business and operations.
10. The Petitioner Company has also enclosed copies of the Acknowledgement of Income-Tax Returns filed with the Income-Tax Authorities for the
Assessment Year 2018-19.
11. The Respondent, Registrar of Companies submitted his Affidavit in reply on 15.09.2020 explaining the following sequence of events leading to the
striking of the name of the company:
(a) The Respondent side issued Notice in Form STK-1 to the company and its directors informing the intention of the Registrar to strike off the name
of the Company and requesting them to submit a cause contrary to the said action within thirty days.
(b) Further, as required under rule 7 of the Companies (Removal of Name) Rules, the name of the Company was published on the website maintained
by the Ministry vide STK-5 dated 17.07.2019 and issued notices not only to the Company and the Directors of the company, but also to all
stakeholders concerned so as to receive their objections to the said intention of the Registrar to remove the name of the company.
(c) In addition to the publication of the name of the Company on the website of the Ministry, the name was also published in the Official Gazette and
in leading English newspaper “Times of India†and a widely circulated regional language in Marathi newspaper “Maharashtra Timesâ€.
(d) Respondent further submits that in the absence of any representation against the proposed strike off action, the Registrar struck off the name of
the company on 08.11.2019 and the dissolution order was published on the website of the Ministry vide STK-7 on 08.11.2019.
12. Upon perusal of the audited accounts submitted by the Petitioner Company, the Bench is satisfied that the Company has earned Revenue from
operations of Rs.2,25,57,291/-, has Fixed Assets of Rs. 9,64,866/-, Long-Term borrowings of Rs. 8,71,000/-, spent towards Employees Benefit
Expenses of Rs.82,41,398/- and earned Profit of Rs.25,03,137/- for year ended 31.03.2019. For the year ended 31.03.2018 the company earned
Revenue from its operations of Rs. 1,34,83,859/-, Fixed Assets of Rs. 12,10,800/-, Long Term borrowings of Rs.7,49,500/-, spent Employees Benefit
Expenses of Rs.57,20,670/- and made Profit of Rs. 12,35,540/
13. As observed above, the books of the Petitioner Company reflect that the company is in operation and Members intend to continue its operations of
the company. Therefore, in the interest of justice the name of the company deserves to be restored in the Register of Companies maintained by the
Respondent Registrar of Companies.
14. Given the above facts and circumstances, we are satisfied that the prayer sought by the Petitioner company deserves to be allowed.
ORDER
Company Appeal CP No. 1060/252(3)/MB/C-II/2020 filed by Appellant/Petitioner INNOVATIVE DATA SOLUTIONS PRIVATE LIMITED,
through its Director Mr. Chetan Shivakant Panday, seeking restoration of the company’s name in the Register of the Companies maintained by
the Registrar of Companies, Mumbai is allowed with the following terms.
The Respondent is directed to restore the name of the Petitioner company in the Register of Companies subject to payment of a sum of Rs. 50,000/-
(Rupees Fifty Thousand Only) as cost payable in the account of “PM CARES†fund within thirty days from the date of receipt of copy of this
order.
The company shall file all its pending financial statements and Annual Returns with all the applicable fees and late fees with the Respondent within a
period of thirty days from the date of receipt of copy of this order, failing which, this order will stand vacated automatically.
