Byram A.Shroff vs M/S S.S. Endothermics Pvt Ltd & Anr

Byram A. Shroff ...Appellant

Vs.

S.S. Endothermics Pvt. Ltd. & Anr. ...Respondents

Present: Appellant: Mr. Jatin Mongia, Mr. Kartik Bhatnagar, Ms. Tahira Karanjawala, Mr. Apurva and Mr. Shreyas Maheshwari, Advocates Respondent: Mr. Sidhant Kumar and Mr. Om Batra, Advocates for R-2

ORDER

(Hybrid Mode) 22.10.2024 - This Order be read in continuation of the Order dated 20th

September, 2024. It is submitted the Appeal filed against an Order of striking

off the Company from the ROC record is finally heard and is allowed vide

Order dated 25th September, 2024 with the following condition:-

"6. After having heard the learned counsels for the parties, perusing the documents on record and also appreciating the peculiar facts and circumstances of the present case wherein the Appellant no. 2 and Mr. Vivek Shah are stated to be 50 per cent shareholders in the company and in view of the allegation of misappropriation by the Appellant no. 2, the striking off of the name of the company Appellant no. 1 is bound to further prejudice the interest of Appellant no. 2. The case of the Appellant is that the company was doing good business except two years prior to striking off when the parties were embroiled in litigation. Keeping in view the abovesaid facts and circumstances and after having perused the document placed on record, we deem it 2

appropriate to set aside the order dated 17.07.2018 striking off Appellant no. 1 from the Register of the ROC Mumbai on payment of cost of Rs. 50,000/- (for both the defaulting years) to be deposited in "Prime Minister Relief Fund" through "Bharatkosh"."

2. The learned Counsel for the Appellant says the compliance shall be

done within the period prescribed in the Order dated 25th September, 2024.

Since the learned NCLT vide the impugned Order had held once the name of

the company struck off, no petition under Section 241 - 242 of the Companies

Act, 2013 is maintainable and has now vide Order dated 25th September,

2024, the name of the company is restored to its original position, hence it

would be appropriate to set aside the impugned Order and to restore the

Petition to its original number. The rights and contentions of the parties on

merits shall remain open before the learned NCLT.

3. The Appeal stands disposed of. Pending applications also stand

disposed of.

4. Parties to appear before the learned NCLT on 11th November, 2024.

[Justice Yogesh Khanna] Member (Judicial)

[Mr. Ajai Das Mehrotra] Member (Technical) rs/md

Company Appeal (AT) No.115 of 2024