Authority: National Company Law Tribunal, Division Bench, Court - 1, Ahmedabad

Order Date: 16/06/2026

Case Overview

This appeal was filed under Section 252(3) of the Companies Act, 2013 by Mr. Anand Chandrakanth Sheth, a director and shareholder of AMPS Investment Private Limited. The appellant sought to restore the company's name to the register of companies maintained by the Registrar of Companies (RoC), Gujarat, after it was struck off on 27.07.2007. The RoC had taken this action under Section 560 of the Companies Act, 1956 because the company was not carrying on business or operations and had failed to comply with statutory filing requirements. The appellant submitted that a notice for removal was misplaced during internal renovation work at the registered office and thus went unanswered. The company was incorporated on 05.07.1982 with an Authorized Share Capital of ₹1,00,000 and a Paid-Up Capital of ₹1,00,000. Its main object was to carry on the business of an investment company. The company had not prepared financial statements since FY 2003-2004 and its last available statements were from 2002-2003, which showed a land asset with a book value of ₹82,542. The appellant later produced valuation reports for this property, situated at Survey No. 250/A, S.P. Nos. 27 and 28, Uma Industrial Estate, Vasna-Iyava, Sanand, Ahmedabad. The Income Tax Department, which was also a respondent, confirmed the company's PAN was active and raised no specific objection to the restoration, subject to safeguarding the interests of the revenue.

The Tribunal considered whether the company was carrying on business at the time of striking off or whether it was just and equitable to restore its name. It concluded that the ownership of immovable property by the struck-off company constituted sufficient ground for restoration under Section 252(3).

Final Outcome

The appeal was allowed. The NCLT ordered the restoration of the company's name to the register, subject to several strict conditions:

1. The RoC must restore the name and change the status from 'Strike Off' to 'Active' within 30 days.

2. The company must file all pending statutory documents, including annual returns and financial statements, with applicable fees and penalties, within 45 days.

3. The appellant must publish the order in one English and one Gujarati newspaper in Gujarat within 15 days at the company's expense.

4. The company must deposit the cost for publication in the Official Gazette.

5. The appellant must file an affidavit within 30 days declaring if any assets were acquired or disposed of after the strike-off date (27.07.2007).

6. The appellant must pay a cost of ₹10,00,000 to the Ministry of Corporate Affairs.

7. The restoration does not automatically remove any director disqualifications incurred under Section 164 of the Companies Act, 2013.

8. The RoC retains the right to take action for any other violations committed by the company.

Failure to comply with any condition may result in further penalties. The order is confined to the violations that led to the striking off and does not preclude other actions by authorities.

Topics: Company Restoration, NCLT Order, Statutory Compliance