NCLT Dismisses Petition to Restore Struck Off Company
Authority: National Company Law Tribunal, Kolkata Bench
Order Date: 9th June 2026
Case Overview
This company petition (C.P.No. 135/KB/2025) was filed by Mr. Ajoy Singh, a shareholder holding 100 shares (0.01% stake) in Trilok Advisory Private Limited, under Section 252(3) of the Companies Act, 2013. The petition sought restoration of the company's name to the register of companies maintained by the Registrar of Companies, West Bengal.
Trilok Advisory Private Limited (CIN: U74140WB2010PTC151517) was incorporated on 22nd July 2010 as a private limited company with its registered office at 5/4, Clive Row, 2nd Floor, Room No. 33A, Kolkata-700001. The company had an authorized share capital of ₹5,00,00,000 (Five Crores) and a paid-up equity share capital of ₹4,97,00,000 (Four Crores Ninety-Seven Lakhs).
The company's name was struck off from the register on 29th June 2018 (later referenced as 24th August 2018 in the order) by the Registrar of Companies, West Bengal, under Section 248 of the Companies Act, 2013. This action was taken because the company had failed to file its Financial Statements and Annual Returns for nine consecutive financial years: 2015-16, 2016-17, 2017-18, 2018-19, 2019-20, 2020-21, 2021-22, 2022-23, and 2023-24.
The petitioner claimed he was unaware of the strike-off and argued that the company was carrying on business operations, maintaining significant assets (including non-current investments of about ₹14.95 Crores and other advances of about ₹34.91 Crores as per March 2022 balance sheet), and incurring regular expenditures like audit fees.
The Registrar of Companies, in its report dated 11th November 2025, raised serious objections to the restoration. Key objections included: the company illegally operated its bank account after dissolution; financial statements for 2019-20 to 2023-24 were prepared under the false pretense of a 'going concern' despite the company's dissolved status; and auditors violated Auditing Standard SA 500 by failing to verify the company's legal status.
The tribunal examined Sections 248(5) and 250 of the Companies Act, 2013, which state that upon publication of strike-off notice in the Official Gazette, the company stands dissolved and ceases to exist except for realizing amounts due and discharging liabilities. The tribunal also referenced a notification from the Department of Financial Services, Ministry of Finance, dated 5th September 2017, which explicitly directs banks to restrict operations of bank accounts of struck-off companies.
Final Outcome
The National Company Law Tribunal dismissed the petition, finding it without merit. The tribunal held that the company's continued operation of bank accounts and submission of financial statements after dissolution constituted flagrant violations of law. The company lacked legal existence and could not engage in transactions or maintain active status. The restoration remedy was therefore denied.
Topics: Company Restoration, Regulatory Compliance, Corporate Dissolution