Authority: National Company Law Tribunal, Bengaluru Bench (Shri Sunil Kumar Aggarwal, Member (Judicial) and Shri Radhakrishna Sreepada, Member (Technical))

Order Date: 09.06.2026

Case Overview

The petition was filed by Shri Ramnath Santu Angolkar, promoter and shareholder of Shaktinivas Builders Private Limited (CIN: U45203KA1991PTC012365), under Section 252(3) of the Companies Act, 2013. The company was incorporated on 30.09.1991 and was struck off by the Registrar of Companies (ROC), Karnataka under Section 248(5) of the Companies Act, 2013 via Form STK-7 dated 17.07.2017. The petitioner claimed unawareness of the strike-off until 2023 during pendency of Execution Petition No.39/2011 before the Principal Senior Civil Judge & Chief Judicial Magistrate, Belagavi. Non-filing of statutory returns from FY 2009-10 onwards was attributed to prolonged income tax proceedings and personal difficulties, not wilful neglect. The company, a closely held family concern, reported a Gross Turnover of ₹6,56,890 and a loss of ₹49,026 for FY 2023-24. It possesses assets including development rights in immovable properties and is involved in legal proceedings before Civil Courts at Belagavi and the High Court of Karnataka, Dharwad Bench. The petitioner undertook to file all overdue financial statements, annual returns, and other statutory filings within 30 days of restoration.

The ROC, Karnataka, in its reply (dy. No. 1970 dated 21.04.2026), confirmed the strike-off due to non-filing of Financial Statements and Annual Returns from FY 2009-10. Notices in Form STK-1 and STK-5 were issued as per procedure under Section 248(1)(c), and after no response, the name was struck off and gazetted on 29.07.2017. The ROC did not oppose restoration but recommended conditions for compliance.

Final Outcome

The NCLT allowed the petition, restoring Shaktinivas Builders Private Limited to the ROC's register subject to three conditions: (a) holding all pending Annual General Meetings, (b) filing all overdue Financial Statements and Annual Returns within one month, and (c) paying a cost of ₹1,00,000 to the 'Pay and Accounts Officer, A/c Ministry of Corporate Affairs, Govt. of India' within three weeks and submitting the receipt. The ROC must verify cost payment before implementing the order.

Topics: NCLT Order, Company Restoration, ROC Compliance