Because of the failure to file a Financial Statement and returns that too only of the two years should not result the company into striking off their name – M/s. Subh Laxmi Colonizers Pvt. Ltd Vs. Registrar of Companies, Delhi – NCLAT New Delhi
NCLAT held that the Appellant Company has filed the ‘Balance Sheet’ till 31.03.2015. What it has committed a mistake that the Company has not filed the ‘Balance Sheet’ for Financial Year 2015-16, 2016-17 till notice was issued in Form STK-1 on 25.05.2018 by the Registrar for Removal the name of the Company from Registrar of Companies. Simply non-filing of Financial Statement cannot be a ground for striking off the name of the company, if the company is otherwise in the business or operation of the Company. For a Real Estate Company, it is not possible always to generate the income on year to year basis. The RoC is empowered to review this Company even after few years and they can take appropriate measures in accordance with the provisions of the Act. So far as the present case of the Appellant is concerned, simply, because of the failure to file a Financial Statement and returns that too only of the two years should not result the company into striking off their name. These are small companies, business is erratic.
