Case Law Details
Sanmati Agrizone Private Limited Vs Registrar of Companies (NCLAT Delhi)
NCLAT Delhi held that struck off the name of the company from the register of Registrar of Companies sustainable as Audited Financial Statement of two immediately preceding Financial Year reflect ‘zero revenue’ from its operations.
Facts- The present Appeal u/s. 421 of the Companies Act, 2013, has been filed by the Appellant being aggrieved and dissatisfied by the order dated 17.12.2021 passed by the National Company Law Tribunal (New Delhi Bench, Court-II) in Appeal No. 114/252(ND)/2021 whereby and whereunder appeal filed by the Appellant for restoration of the name of the Company in the Register maintained by the Registrar of Companies (RoC), Mumbai was dismissed by the Tribunal.
Notably, it is mainly alleged that the Registrar of Companies strike off the name of the company chiefly on account of non-filing of annual accounts and not based on reasons that the company is not having “income from operation” hence the objection of the Registrar of Companies taken in the report is beyond the reasons for striking off the company and the Tribunal have not considered the said ground at all while deciding the appeal as there is no finding in the order why there was a delay in filing the annual accounts it is obligatory on the part of the NCLT to provide the reasons for the same while dismissing the appeal.
Conclusion- The NCLT has rightly held that the Audited Financial Statements of the two immediately preceding Financial Years i.e., 2015-16 and 2016-17 filed by the Appellant Company reflected “Zero revenue” from its operations and have come to the conclusion that the Appellant Company was neither in operation nor carrying out its business at the time of its name was struck off from the register of Registrar of Companies.
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