Two lakh for getting registered in Registrar of companies : NCLT

In this case the Registrar Of Companies , Mumbai took a decision in view of the section 248(5) of the Companies Act 2013. The decision was to remove the name of company Yule Investments Pvt Ltd. as the same have failed in its duty to file Statutory Returns ( Financial Statements and Annual Returns ) since 2015 and the same has not been filled till date. Therefore the said company brought a plaint in the National Company Law Tribunal, Mumbai pleading that the petitioner is a ongoing company and had no intentions to struck down the business, However they accept that they have failed to file the Statutory Returns and also missed the deadline to respond to RoC within stipulated time period of 30 days after the notice was received from them. The petitioner agreed to pay its dues of annual filling with the Roc.

The registrar of Companies exclaimed that they have issued the public notice on 19.07.2018 as per section 248 (4)(1) of the Companies Act 2013. It was also contented that the name of the company was also published on the web site of the ministry and in the Official Gazette. It was also stated that another public notice was issued in leading English newspaper and several vernacular newspapers including Maharashtra Times- Marathi on 21.07.2018. And hence the registrar struck off the name of the company.

After hearing the contentions of the company the NCLT , Mumbai held that it was in the interest of justice to restore the name of the company in the Registrar of companies and a last opportunity should be given to them to file all the [ending annual statements along with late fees within 30 days. However this restoration was subjected to cost of Rs. 2, 00, 000 which was payable to ” Prime Minister National Relief Fund” within 10 days from the date of receipt of order.