Sidhsilver Commodities Wound Up as Shell Company

Case Name: The Registrar of Companies, West Bengal vs. Sidhsilver Commodities Private Limited & Others

Court/Authority: National Company Law Tribunal, Kolkata Bench, Court-II

Case Number: C.P. No. 172/KB/2023

Date of Pronouncement: 22.05.2026

Period of Violation: From incorporation (10th April 2012) until striking off (9th June 2017)

Petitioner: The Registrar of Companies, West Bengal

Respondents:

1. Sidhsilver Commodities Private Limited (CIN: U74900WB2012PTC179934)

2. Shyam Singh (DIN: 02898859), Director

3. Manohar Haruan (DIN: 06423856), Director

4. Anil Roy (DIN: 06463936), Director

Legal Representatives for ROC: Mr. Ajay Chaubey, Ms. Hema Mukherjee, Ms. Paromita Indu (Advocates)

Tribunal Bench: Shri. Labh Singh (Member Judicial), Ms. Rekha Kantilal Shah (Member Technical)

The company was identified as a shell company by the Income Tax Department
Failed to file financial statements and annual returns from date of incorporation (2012) until striking off (2017)
Complete non-cooperation with regulatory inquiry under Section 206(5) of Companies Act, 2013
Directors failed to appear before Inquiry Officer despite summons under Section 207(3)
No response to notice under second proviso of Section 272(3) dated 4th November 2022
Company name was struck off from Register of Companies on 9th June 2017 under Section 248

The Tribunal found merit in the petition due to company's complete failure to comply with statutory filing requirements
No material was submitted by the company or its directors to controvert the allegations
The company demonstrated persistent non-cooperation throughout regulatory proceedings
The winding up is justified under Section 271(e) read with Section 248(8) & Sections 272(1)(d) and 272(3) of Companies Act, 2013

The company is ordered to be wound up under provisions of Companies Act, 2013
Official Liquidator attached to Calcutta High Court appointed as Company Liquidator under Section 275(1)
Company Liquidator directed to take custody of all properties, assets, and actionable claims of the company
Liquidation order deemed as notice of discharge to officers, employees, and workmen under Section 277(3)
All legal proceedings against the company require leave of the Tribunal under Section 279(1)

Company Liquidator must file declaration in Form WIN 10 within 7 days disclosing conflict of interest
Liquidator to initiate liquidation process under Sections 277(4)-(8), 293, and 294
Liquidator to submit report in Form 16 within 60 days and periodic reports under Section 288
Provisional list of contributories to be filed within 21 days under Rule 28 of Companies (Winding Up) Rules, 2020
Advisory Committee to be formed with powers under Section 287
Registry to intimate Company Liquidator and Registrar of Companies who must endorse the order and notify in Official Gazette

Company Petition admitted and winding up ordered
Next hearing listed on 17.07.2026 for filing of Periodical Report
Copy of order to be sent to parties, Company Liquidator, Registrar of Companies, and Authorized Representative within 7 days
Certified copy available upon compliance with formalities