Case Overview

The National Company Law Tribunal (NCLT) Indore Bench pronounced an order in Company Appeal No. 02/MP/2026 filed under Section 252 of the Companies Act, 2013. The appeal was filed by Shri Anurag Soni (PAN: BBJPS9085E), a 75.98% shareholder of Moneyhouse Private Limited (CIN: U67120MP2012PTC028693), against the Registrar of Companies (ROC), Gwalior, Madhya Pradesh.

The company was incorporated on 20 June 2012 as a private limited company with registered office at 410, Apollo Square, 7/2 Race Course Road, Indore - 452003, Madhya Pradesh. Its authorized share capital was ₹5,00,00,000 divided into 50,00,000 equity shares of ₹10 each, with issued, subscribed, and paid-up capital of ₹5,00,00,000 comprising 1,96,000 equity shares.

The ROC struck off the company's name from the register on 29 June 2017 through Gazette Notification dated 12 August 2017 (Sl. No. 1372) due to non-filing of annual returns and financial statements since financial year 2013-14. The last filed documents were Annual Return up to 30 September 2013 and Balance Sheet as at 31 March 2013.

The applicant contended that non-compliance occurred due to extraordinary circumstances: he was primarily responsible for company management but was incarcerated for a substantial period following FIR No. 498/2013 registered at Cyber and Hi-Tech Crime Police Station, Bhopal. The criminal proceedings were ultimately quashed by the Madhya Pradesh High Court on 14 March 2023 in MCRC No. 33356 of 2022, which was affirmed by the Supreme Court through dismissal of SLP (Crl.) No. 7723 of 2023.

The company maintained financial activities with assets including Long Term Loans/Advances of ₹2,58,53,600, Other Current Assets of ₹1,66,100, and Cash and Cash Equivalents of ₹21,32,800 as of 31 March 2025. Total liabilities stood at ₹28,30,700.

The ROC raised no objection to restoration but sought standard conditions: filing pending documents, publication of order, and deposit of Gazette notification charges. The Income Tax Department report (F.No. ITO-1(1)/Ind/NCLT/2026-27 dated 18 May 2026) confirmed no search/survey proceedings, no concealment penalties, no outstanding tax dues, and all income tax returns filed from AY 2013-14 to 2025-26 for the company (PAN: AAICM0049E).

Final Outcome

The NCLT allowed the appeal and ordered restoration of Moneyhouse Private Limited's name to the ROC register, subject to the following conditions:

1. The ROC, Gwalior must restore the company's original status as if the name was never struck off

2. The applicant must file all pending statutory documents including annual accounts and returns for default years with prescribed fees within 60 days of restoration

3. Payment of cost of ₹1,00,000 to Consolidated Fund of India through Bharatkosh, with proof submitted to ROC within 15 days

4. Publication of the order in one vernacular and one English newspaper at company's expense within 30 days, with proof filed with ROC

5. Deposit of cost for Official Gazette publication with Pay & Accounts Officer, Mumbai within 30 days, with proof submitted to ROC

6. Submission of certified copy of order to ROC within 30 days

7. The ROC may still take appropriate action for any other violations/offenses committed by the company prior to or during striking off

The restoration is effective immediately upon compliance with these conditions.

Topics: Company Restoration, NCLT Order, Regulatory Compliance