NCLT ALLOWED RESTORATION OF NAME OF THE COMPANY IN THE REGISTRAR OF THE COMPANIES- ORDER DATED 17 OCTOBER, 2017

PETITIONER: M/S GILL HEAVENS FAMES PVT. LTD.

RESPONDENT: REGISTRAR OF COMPANY (ROC), HARYANA & DELHI

ORDER DATED: 17/10/2017

BRIEF FACTS OF THE CASE:

The present petition has been filed under Section 252(3) of the companies Act, 2013 by M/s Gill Heavens Fames Pvt. Ltd. (Herein referred to as the “Petitioner Company”) with the National Company Law Tribunal (“NCLT”) praying for restoring its name in the Register of the companies maintained by the Registrar i.e., Registrar of Companies (Herein referred to as the “Respondent”).

The above company was incorporated in the year of 1997 with the Registrar of Companies, NCT of Delhi and Haryana, The Company inter-alia engaged in the business of dairy farming, stud farms, animals breeding including sheep, horses, rabbits, pigs, fisheries and dairy farm produce of all kinds, milk, cream butter, cheese, paltry eggs, fruits and vegetables condensed milk etc.

The Registrar suo-moto struck off the petitioner company after issuing notification under Section 560(5) in the official gazette. The reason behind strike off was that the company have not filed its statutory returns and other documents since its incorporation.

CONTENTION OF THE PETITIONER:

Petitioner contended that due steps have been taken in accordance with the statutory provisions before striking off the name of the petitioner company from their registrar. The action was initiated as the petitioner company did not file the Balance Sheet and Annual Return since incorporation which was in contravention of section 159/220 of the Companies Act, 1956, which compelled the Roc to believe that the petitioner company was not carrying on any business and not in operation.

Further, petitioner also contended that the notices issued u/s 560 are not readily traceable as the records of the ROC, NCT of Delhi & Haryana have been shifted to Indian institute of corporate affairs (IICA). 

The respondent also failed to prove that due steps were not taken in compliance of the mandatory provisions of the Sections 560(1), 560(2), 560(3) of the Companies Act, 1956, which are pre-requisite for striking off the name of a company from its registrar.

In the absence of any material to substantiate adherence to the mandatory provisions, the impugned action of the Respondent would be arbitrary, illegal and against the principals of natural justice.

Below are Judgements followed before the order was pronounced:

M/s Purushottamdass and Anr (Bulakidas Mohta Co. P. Ltd.) V. Registrar of Companies, Maharashtra & Ors., (1986) 60 Comp Cas 154 (Bom);
M/s Ascot shoes private limited V. Registrar of Companies;
M/s Pancham Hotel Private Limited V. Registrar of Company;
M/s Medtech Pharma (India) Pvt. Ltd V. Registrar of Company;
M/s Santaclus Toys Pvt. Ltd V. Registrar of Company;
M/s Deepsone Non-ferrous rolling mills Pvt. Ltd V. Registrar of Company;
M/s Kakku E and P Control Pvt. Ltd V. Registrar of Company;
M/s Sohal Agencies Pvt. Ltd V. Registrar of Company.

DECISION BY NCLT

After considering the aforesaid judgements and foregoing, facts and circumstances NCLT allowed the restoration of the name of the petitioner company in the Registrar of the companies.

However, the Hon’ble court directed the petitioner company to pay INR 1,00,000 to the Prime Minister Relief Fund and do all compliance which should be done as if the company was not struck off like filing of Annual return and Balance Sheet or any other formalities to restore the name in the register of the Registrar.

Link to download judgement:

http://nclt.gov.in/Publication/New_Delhi_Bench/2017/Others/95.pdf

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ACQUIRING ARMS LICENSE IN DELHI- A SHORT AND BRIEF ARTICLE ON PROCESS

It may be happened with you that somebody threatened you over street, in market or some other places to get something from you it may be money, things you are carrying or anything else and you were wondering to have something in your pocket to save yourself.

Nowadays, threatening is a very basic business practice in markets for dealers or people dealing in selling and purchasing goods which involve transaction of money in cash.

Dealers/businessmen are being threatened many times during their ways to home or at work for getting killed. Many of my clients ask me, should they get a revolver or pistol in their pocket for safety purpose. Here is a short article alongwith the safety tips to get a license of arms and how to use it after getting the same.

Government has made it very easy for people desiring an arms license. The process for applying for the license is online and once you apply it online you need to submit the physical copies of the documents as prescribed alongwith the application with the concerned police station.

FOLLOWING ARE THE DOCUMENT REQUIRED TO TAKE ARMS LICENSE:

• Application to be applied online; (in Delhi through http://www.delhipolicelicensing.gov.in/);
• 4 passport size photographs (self attested on the back side);
• An Undertaking for safe storage;
• Medical Certificate- to be issued by a registered MBBS Doctor on their letter head or on prescribed proforma by a Govt. Doctor);
• Self attested copy of the Date of birth proof (it may be Matriculation certificate or School leaving Certificate, Passport, PAN card etc);
• Proof of Identity- Aadhar card is Mandatory.

Note: In case the applicant does not have Aadhar Card, a written declaration in the form of an Affidavit to be submitted in this regard an alternative identification proof like Passport or Voter ID card;

CONSULTANT FOR GUN LICENSE 8510058386 or email Id cspraveensingh111@gmail.com

• Residence Proof: In case the applicant does not possess Aadhar Card or Passport, which may include Voter ID Card or Electricity bill or Landline telephone bill or Rent deed or Lease deed or property documents or any other documents to the satisfaction of the Licensing Authority;
• Posting-cum-residence certificate / recommendation from the Commanding / supervisory Gazetted Officer is mandatory (In case of Armed Forces Personnel, and paramilitary forces only). Police personnel may also submit this proof;
• Financial status proof like Income Tax Return (ITR)/Salary Slip or any other proof.
• In case of threat, attach a copy of FIR/Complaints to justify the threat if any,

IN CASE OF DEATH/TRANSFER OF WEAPON ON INHERITANCE BASIS:

• Arms license of the deceased or the transferor as the case may be;
• Consent on affidavit of licensee, in case of transfer of weapon the who intends to transfer his weapon;
• An indemnity bond, in case of death of licensee, from the applicant and NOCs from all the other legal heirs;
• Approval from office of DGO’s, DHQ, in case the weapon is Non-Service-Pattern (NSP).

GUN LICENSE IN CASE OF EMPLOYEES/SERVICE:

• NOC from Department;
• Proof of Official address, if any;
• Date of retirement (Copy of order issued by the office in case of Govt. Servant / Army/ CPO /Police /DHG personnel);
• An undertaking is to be submitted by the security guard duly signed from his employer regarding the requirement and his training.

GUN LICENSE IN CASE OF BUSINESSMAN:

• Papers like MCD / NDMC / Delhi Cantonment Registration Certificate / Sales Tax receipt / Service Tax Receipt / VAT receipt;
• Annual  Income;    
• Annual  Turnover;
• Daily cash Transaction;
• No. of employees;
• Any other document as may be demanded by the concerned officer.

FEES FOR OBTAINING GUN LICENSE

Government fees for obtaining gun license vary from 500 to 2000 depending on the weapon you wanted to hold.

PROCEDURE:

The application form as above along with the requisite documents can be submitted in the Licensing Unit on any working day from 9.30 AM to 12.30 PM.

The sample forms can be downloaded from the hyperlinks provided on the government portal or else can be obtained from the licensing Unit.

TIPS FOR USING YOUR GUN

1. Always keep it in safe custody;
2. Don’t give it to anyone for showing off yourself;
3. It should be unloaded before giving to anyone;
4. Keep it away from people who are drunk;
5. Always keep it away from children, it is not a toy
6. Always treat the gun as loaded.

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CONTACT FOR GETTING THE LICENSE:

Praveen Singh

85100 58386

RASU & ASSOCIATES
http://www.rasu-cs.com  

Email ID: cspraveensingh111@gmail.com/

References/Source:

1. http://www.delhipolicelicensing.gov.in;

2. Section 3 read with section 4 of Arms Act of 1959 and Rule 4 of Arms Rules, 1959;

3. https://indiansforguns.com/viewtopic.php?t=504;

4.http://timesofindia.indiatimes.com/city/delhi/Need-arms-licence-Your-reason-better-be-good/articleshow/735190.cms;

5.https://www.wikiprocedure.com/index.php/New_Delhi_-_Apply_for_New_Firearm_(Gun)_License;

6. https://blog.ipleaders.in/obtain-gun-license/

CREDIT GUARANTEE FUND FOR STARTUPS

CREDIT GUARANTEE FUND FOR STARTUPS

Government is formulating a Credit Guarantee Scheme for Startups (“CGSS”) with a corpus contribution of INR 2000 crores that will enable Startups to raise loans without any collateral for their business purposes. The proposed scheme will provide credit guarantee upto INR 500 lakhs per case inclusive of term loan, working capital or any other instrument of assistance extended by Member Lending Institutions (“MLIs”) to finance an eligible borrower i.e. a Startup recognized by Department of Industrial Policy and Promotion (DIPP).

The main norms and preconditions of the CGSS are as follows:

Scheme will provide benefit to a Startup recognized by DIPP as per Gazette Notifications issued from time to time;

For all resident Directors/Partners, Aadhaar shall be mandatory and for non-resident directors/partners, the passport number shall be a mandatory part of KYC norms;

Member Lending Institutions (“MLIs”) under the scheme can be Scheduled Commercial Banks and Financial Institutions, RBI registered Non-Banking Financial Companies (“NBFCs”), SEBI registered AIFs, etc;

The scheme will function under the trusteeship management of the National Credit Guarantee Trustee Company (“NCGTC”);

Scheme shall provide portfolio- based credit guarantee. Each portfolio shall comprise at least 10 eligible start up loans, during a particular Financial Year;

Coverage would be extended to the portfolio and the portfolio loss would be reckoned against the “net cash losses” during the portfolio life;

Instruments of assistance could be in the form of Venture debt, working capital, debentures, Optionally Convertible debt, etc;

MLIs may provide loans to up to any amount required by an eligible borrower. However, under the scheme the exposure for availing credit guarantee shall be limited to Rs.500 lakh per eligible borrower. 

Such loan will be extended by MLIs without any collateral security and/or third party guarantee;

The Management Committee shall be responsible for the overall supervision and monitoring of the Credit Guarantee Scheme for start-ups;

A Risk Evaluation Committee shall also be formed to address conflict of interest issues;

This information was given by the Commerce and Industry Minister  Smt. Nirmala Sitharaman in a written reply in Rajya Sabha today.

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