BHAGWAN HIRACHAND SOUNGAR Vs. REGISTRAR OF COMPANIES

JUDGEMENT

(1.) This company petition is filed by the Petitioner seeking relief against the respondent to restore the name of the company in the Register of Companies maintained by the Registrar of Companies, Pune.

(2.) The grievance of the Petitioner is that the company was struck off under section 248 of the Companies Act, 2013 due to ron-filing of Financial Statements & Annual Return for 2014-15 and 2015-16 wherein the Respondent side filed a detailed report explaining the redbUMs for striking off of the company under section 248 of the Companies Act, 2013. It is an admitted fact that the company has not filed its Annual Returns and Financial Statements for the Financial Years 2014-15 & 2015-16.

(3.) The Petitioner says that the company is a going concern and is engaged in the business of Builders, Promoters, developers, engineers and contractors and to acquire, develop, improve, freehold or leasehold land, develop estates etc. The Petitioner submits that he as a Member of the company has given unsecured loan to the Company and the company out of the said unsecured loan has purchased immovable property for the company for doing construction business which is reflected in the Balance Sheet of 31.3.2014 and entered into Development Agreement with respect to the immovable property. By inadvertence Company has not filed its Annual Returns and Financials for the Financial Years 2014-15 and 2015-16. The Petitioner has enclosed the Audited accounts for the financial years ended 2014-15 and 2015-16, Acknowledgement of Income-tax Returns for the Assessment Years 2016-17 & 2017-18.