Authority: National Company Law Tribunal Division Bench - II, Chennai

Order Date: 13th July 2026

Case Overview

The appeal was filed by Mr. P. Ramasamy, a 25% shareholder and director of Chola Housing Development and Finance Private Limited, against the Registrar of Companies, Coimbatore. The company was struck off from the register of companies on 7th August 2018 via STK-7 notice following STK-5 notice dated 8th June 2018 under Section 248 of the Companies Act, 2013. The strike-off was initiated because the company had not filed Financial Statements and Annual Returns from the financial year 2004-2005 onwards and was believed to not be carrying on any business operations for two immediately preceding financial years.

The appellant contended that the non-compliance was inadvertent, not willful, and that the company had maintained all financial records including Audited Financial Statements for 2004-2005 to 2023-2024. The company was incorporated on 1st February 1988 (CIN: U65992TZ1988PTC002112) with authorized share capital of ₹5,00,000 and paid-up capital of ₹5,00,000. The company engages in real estate development and financing activities, owns substantial assets including land confirmed by judgment in O.S. No. 35 of 2010 by the First Additional Subordinate Court, Trichy dated 27th August 2019, and intends to resume operations.

The Registrar of Companies confirmed the strike-off was due to non-filing of statutory returns since 2007 and proper procedure was followed with gazette publication. The tribunal found the company had prospects of business, substantial assets, and the non-filing was due to oversight rather than intention to defunct.

Final Outcome

The appeal was allowed and the company's name is ordered to be restored to the register of companies subject to specific conditions:

  • Payment of ₹50,000 cost by the appellant
  • Filing of all overdue Annual Returns and Balance Sheets with requisite fees within 30 days of restoration
  • Filing of declaration under Section 10A of Companies Act, 2013 within 30 days
  • No alienation of valuable assets until all compliances are completed
  • Filing affidavit of compliance within 2 months
  • Delivery of certified order copy to ROC within 30 days
  • ROC to publish order in Official Gazette after compliance
  • Restoration doesn't automatically reinstate disqualified directors under Section 164
  • ROC retains power to take action for other violations committed by the company

The restoration places the company and all persons in the same position as if the name had never been struck off.

Topics: NCLT Proceedings, Company Restoration, Statutory Compliance