NCLT Mumbai allows appeal to restore Pitambar Builders & Developers after ROC strike-off for non-filing of statutory returns.
Company failed to file annual returns and financial statements from FY 2016-17, leading to strike-off action on 07.04.2022.
Tribunal finds company holds valuable land assets worth ₹1.48 crore and allows restoration subject to ₹1 lakh cost and compliance filing.
ROC argued strike-off was proper but tribunal ruled restoration justified to protect company assets and stakeholder interests.