DASAPRAKASH P. LTD Vs. REGISTRAR OF COMPANIES

JUDGEMENT

(1.) This petition has been filed under section 560(6) of the Companies Act, 1956 for the restoration of the name of the petitioner company, which was struck off from the Register of Companies with effect from 13.09.2000.

(2.) Taking note of the fact that while a large number of companies had been registered, but due to various reasons some of them had failed to take off and the promoters of such companies had been requesting the Government to strike off the name of such companies by adopting an easy to follow method in a time bound manner, the Government of India, Ministry of Corporate Affairs thought it fit to launch a Fast Track Scheme enabling such non-starter companies and also the other companies, who want to exit the corporate form of business, without going through the protracted process of voluntary winding up, by getting their names removed from the Register of Companies by submitting the prescribed form with requisite fee. The scheme was put in operation for a limited period of sixty days. The petitioner company wanted to avail the benefit conferred under the Scheme and accordingly, it approached for its name being struck off by submitting necessary forms. Based on the same, the name of the petitioner company was struck off from the Register of Companies with effect from 13.09.2000.

(3.) After a lapse of nearly 12 years, the petitioner company has come forward with the present petition under section 560(6) of the Companies Act, 1956 for the restoration of its name to the Register of Companies on the ground that though the name of the company was struck off, all along the company was doing business and regular meetings contemplated under the statute were held and that the application for restoration of the name has been filed within 20 years, the period prescribed in sub section (6) of section 560 of the Companies Act, 1956.