Case Overview
This Company Appeal No. 3/MP/2026 was filed under Section 252(3) of the Companies Act, 2013 by Premier Forest (India) Private Limited through its director Omprakash Goutam Singh against the Registrar of Companies (ROC), Gwalior, Madhya Pradesh. The company's name was struck off from the Register of Companies and dissolved with effect from 28 April 2022 due to default in statutory compliance filings for financial years 2017-18 to 2021-22. The ROC had published Public Notice No. ROC-G/248(5)/2022/109 dated 12 April 2022 (Form STK-7) listing 1,003 companies, with Premier Forest at serial no. 227, noting it had not applied for dormant status under Section 455.
The applicant company argued for restoration on several grounds: (1) existence of substantial assets including immovable property and land valued at ₹1,21,59,355; (2) prejudice to stakeholders including 18 shareholders; (3) inadvertent default in filing statutory returns; (4) potential revenue generation for state upon restoration; (5) legal vacuum preventing asset protection and business operations; (6) constitutional right to carry on business under Article 19(1)(g); and (7) evidence of business operations through filed income tax returns and audited accounts.
The company provided financial statements showing authorized share capital of ₹1.50 crore, issued, subscribed and paid-up capital of ₹1.28 crore, and assets including fixed assets of ₹1.22 crore, long-term loans and advances of ₹1.76-1.87 crore, and investments of ₹3.88-4.30 crore across FY2017-18 to FY2023-24. The company had four directors: Omprakash Goutam Singh, Balmukund Singh Goutam, Ramdeo Singh Goutam, and Santosh Kumar Pandey.
The ROC in its report dated 07 July 2026 did not raise serious objections but requested directions for filing pending statutory documents, publication of the order, and payment of Gazette notification costs. The applicant undertook to comply with all requirements.
Final Outcome
The NCLT allowed the appeal and ordered restoration of Premier Forest (India) Private Limited to the Register of Companies subject to conditions: (1) payment of ₹50,000 to the Consolidated Fund of India within 15 days; (2) filing copy of order with ROC within 30 days; (3) filing all pending statutory documents with prescribed fees within 60 days of restoration; (4) publishing summary of order in one English and one Hindi newspaper within 30 days; (5) depositing cost of Official Gazette publication with Pay & Accounts Officer, Mumbai within 30 days. The order specifically notes that it does not prevent ROC from taking appropriate action for any violations committed prior to or during the striking off period.
Topics: Company Restoration, NCLT Order, Regulatory Compliance