NCLT JUDGEMENT ON SECTION 248, 252, 455(1) OF THE COMPANIES ACT, 2013 READ WITH RULE 87A OF THE NATIONAL COMPANY LAW TRIBUNAL RULES, 2016


Sidhant Career Concepts Private Limited Vs. Registrar Of Companies, Uttar Pradesh And Uttarakhand, (2020) 08 NCLT CK 0023

NCLT allowed appeal filed by the Appellant U/s 252(3) of the Companies Act, 2013 read with Rule 87A of the National Company Law Tribunal Rules, 2016 for restoration of name of the Appellant Company struck off by the Registrar of Companies, Uttar Pradesh U/s 248 of the Companies Act, 2013 read with Companies (Removal of Names of Companies from the Register of Companies) Rules, 2016, from the Register of Companies maintained by the Registrar of Companies, Uttar Pradesh. While allowing the appeal NCLT held that the Appellant has been able to satisfy this bench that it has certain assets which necessitate and justify the restoration of its name in the Register of Companies. A step as stringent as what has been taken at least requires an opportunity to the appellant to take remedial measures. Merely to disallow restoration on grounds of its failure to file annual returns would be neither just nor equitable. As per several decisions of various courts it should only be an exceptional circumstance that court should refuse restoration where the company has been struck off for its failure to file annual return as that would be excessive or inappropriate penalty for that oversight.

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