NCLT Chandigarh Restores Gatik Buildtech Struck-off Status

Case Details

Case Name: M/s. Gatik Buildtech Private Limited vs Registrar of Companies NCT of Delhi & Haryana & Income Tax Department

Court/Authority: National Company Law Tribunal Chandigarh Bench (Court-I)

Case Number: Company Appeal No. 5/Chd/Hry/2025

Order Date: 21 May 2026

Period of Violation: Non-filing of financial statements and annual returns from financial year 2017-2018 onwards

Parties Involved

Petitioner/Applicant: M/s. Gatik Buildtech Private Limited (Through Director/Shareholder Piyush Agarwal)

• Corporate Identity Number: U45400HR2014PTC051561
• Authorized Share Capital: ₹1,00,000 divided into 10,000 Equity Shares of ₹10 each
• Paid-Up Capital: ₹1,00,000 divided into 10,000 Equity Shares of ₹10 each

Respondents:

1. Registrar of Companies NCT of Delhi & Haryana (Ministry of Corporate Affairs)

• Address: 4th Floor, IFCI Tower, 61, Nehru Place, New Delhi-110019

2. Income Tax Department (Ministry of Finance)

• Address: HSIIDC BUILDING Udyog Vihar Ph-5 6th Floor, Vanijya Nikunj, Gurgaon, 122001

Legal Representatives:

• For Applicant: Mr. Yashoaj Guglani, Advocate; Mr. Narender Thakur, Advocate; Ms. Yamini Thakur, Advocate; Ms. Snehal Sharda, Advocate
• For Income Tax Department: Mr. Varun Issar, Sr. Standing Counsel
• For ROC Haryana: Mr. Vijaya Sinha Reddy, Deputy ROC

Tribunal Members:

• Mr. Khetrabasi Biswal, Hon'ble Member (Judicial)
• Mr. Shishir Agarwal, Hon'ble Member (Technical)

Issues / Allegations / Violations

The Registrar of Companies struck off the name of Gatik Buildtech Private Limited from its register under Section 248 of the Companies Act, 2013 due to non-filing of financial statements after issuance of notices in form STK-5 and STK-7. The company had failed to file its Annual Returns and Financial Statements since 31 March 2017.

The company had been regular in statutory compliances until FY 2016-2017, having filed:

• Annual Financial Statements and Annual Returns up to financial year ending 31 March 2017
• Income Tax Returns up to financial year ending 31 March 2020

Findings & Observations

The Tribunal found that:

1. The company owned substantial immovable assets including agricultural and non-agricultural land situated in Village Ubaraka, Tehsil Tapukda, District Alwar, comprising multiple khasra numbers, evidencing its continued existence and business interests

2. The non-compliances arose due to circumstances beyond the company's control:

• COVID-19 pandemic caused severe disruption in functioning leading to complete halt in day-to-day operations
• One director underwent serious medical condition requiring surgery followed by prolonged hospitalization and recovery
• Lack of adequate professional guidance

3. The non-compliance was neither wilful nor deliberate but occurred due to bona fide reasons and unavoidable circumstances

4. Income Tax proceedings for Assessment Year 2016-17 are pending against the company with a demand exceeding ₹8 crores, of which a portion is under appeal while the remaining amount is not

5. Restoration is necessary to enable the Income Tax Department to complete pending proceedings and prevent loss to public exchequer

Penalties / Settlements / Directions

The Tribunal imposed the following conditions for restoration:

1. Cost Payment: ₹50,000 (Rupees Fifty Thousand Only) to be paid to "Prime Minister National Relief Fund" within three weeks from receipt of the certified copy of the Order

2. ROC Directions:

• Registrar of Companies shall restore the original status of the company as if the name had not been struck off
• Change the status of the company from 'struck off' to 'active'
• Publish the Order in the Official Gazette at the company's cost

3. Company Obligations:

• File all pending statutory documents including annual accounts and annual returns
• Pay prescribed fees/additional fee/fine as decided by the Registrar of Companies
• Complete filing within 45 days from the date of restoration
• Deliver certified copy of the Order to ROC within 30 days from receipt

4. Income Tax Department: May take necessary action as per law for non-filing or belated filing of Income Tax Returns and for recovery of outstanding demand

Corrective Actions & Future Obligations

The company has undertaken to:

• File all outstanding statutory documents including financial statements and annual returns
• Pay all requisite fees and applicable additional fees
• File appeals in respect of the remaining Income Tax demand after restoration
• Regularize all compliances upon restoration

Final Ruling & Enforcement

The Tribunal allowed the Company Appeal bearing No. 5/Chd/Hry/2025 and ordered restoration of the company's name to the Register of Companies subject to the conditions and directions specified. The order is confined to violations that led to the striking off action and does not prevent the ROC from taking appropriate action for any other violations/offenses committed by the company.