The National Company Law Tribunal (NCLT), Chennai, has allowed a plea filed by music composer Yuvan Shankar Raja for restoration of his movie manufacturing YSR Films Pvt. Ltd., which was struck off from the Registrar of Companies (RoC), Chennai.
The firm had not filed its stability sheet and annual returns as per the provisions of the Companies Act, 2013, since 2018-19 as on the date it was struck off by the RoC as per the provisions of part 248(1) of the Companies Act, 2013 and it was revealed within the Gazette of India dated February 19, 2022.
Mr. Raja mentioned he has filed the plea in his capability as shareholder of YSR Films and acknowledged that the corporate had inadvertently omitted submitting of the statutory returns for need {of professional} assist.
He mentioned the corporate had a income of ₹15 lakh in monetary 12 months 2020-21 and submitted particulars of its monetary assertion from 2016-2021 and Income Tax returns filed from 2016-2019 and GST returns filed for 2021-22 and has been carrying on enterprise from the date of its incorporation on March 10, 2016.
NCLT directed the corporate to file the returns for the default interval inside 30 days from date of restoration together with the required charges and pay ₹50,000 in direction of price for revival of the corporate. Till it complies with all the principles, the corporate shall not get rid of any of its useful belongings.
It informed shareholders of the YSR Films to collectively submit an enterprise to RoC stating that the accounts of the corporate weren’t used as a way to transact tainted cash in the course of the interval of demonetization.
Source: www.thehindu.com
