NCLT Chandigarh allows Income Tax Department's appeal to restore struck-off company Laxminarayantara Forex Private Limited.
Restoration ordered due to pending tax proceedings involving cash withdrawals of ₹13.56 crore identified for assessment.
Company was struck off on 14 February 2022 and appeal filed within three-year limitation period on 23 February 2024.
Tribunal finds restoration necessary to safeguard government revenue and complete pending income tax assessment proceedings.