PAULSONS LIMITED Vs. REGISTRAR OF COMPANIES, TAMILNADU, CHENNAI

JUDGEMENT

(1.) Under consideration is a Company Application that has been filed on 05.10.2017 under Section 252 (3) of the Companies Act, 2013 by the Applicant Company viz., M/s. Paulsons Limited having CIN No. U27209TN1986PLC013634 and its Registered Office is situated at No. 8, Collector Office Road, Cantonment, .A" Trichy-620 001. The prayer is made to seek order for restoration of the name of the Applicant Company to the Register of Companies maintained by the concerned Registrar of Companies.

(2.) The Applicant is the public limited company and was incorporated on 03.11.1986 under the Companies Act, 1956. The Authorised Share Capital of the Applicant Company is Rs. 10,00,000/- divided into 1,00,000 equity shares of Rs.10/- each. The issued, subscribed and paid-up capital is Rs. 10,00,000/-divided into 1,00,000 equity shares of Rs.10/- each. The main object of the Applicant Company is manufacturing of cement.

(3.) It has been stated that after incorporation, the Applicant Company has been continuing its business operations. The Applicant Company entrusted the work in relation to the filing of statutory compliance of the various authorities to a Consultant, and the Applicant Company was not in touch with the said Consultant from the year 2011. Therefore, the, Balance Sheets and Annual Returns were not filed with the RoC, which is neither wilful nor wanton. As a result, the name of the Applicant Company was 'struck off from the Register of Companies under Section 248(5) of the Companies Act, 2013 read with Rule 3 of the Companies (Removal of Name of Companies from the Register of Companies) Rules, 2016.