STATIC TRANSFORMERS PRIVATE LIMITED Vs. REGISTRAR OF COMPANIES

JUDGEMENT

(1.) This company petition is filed under Section 560 (6) of the Companies Act, 1956 (for short, "1956 Act") for restoration of the name of company with the Registrar of the Companies.

(2.) The petitioner-company was registered and incorporated under the provisions of 1956 Act. The registered office of the company is situated at G-4, Polo Ground, Industrial Estate, Indore (M.P.). The authorized share capital of the company is Rs. 15,00,000/- divided into 60000 equity shares of Rs. 25/- each. The company was dealing the business as manufacturer of transformers of all descriptions including Static Transformers, Welding Transformers required for distribution of Electrical Energy, Transformation of Electrical energies in different fields as Vibrators and other equipments as also manufacture of Electrical Instruments for Mining, Production of Electrical energies and its transformation or its distribution.

(3.) It is stated that the company is ready to file pending statutory returns with delay filing fees as per the Act. It is further stated that company is in good financial condition and has sufficient working capital and it cannot be treated as defunct in terms of the Companies Act. It is further stated that no notice under sub-section (2) & (3) of Section 560 was served on the petitioner before treating the petitioner as a defunct company. The company is in operation and regularly conducting the Board. Section 560 (6) of the Companies Act reads as under:-