Blue Internet Service Ltd v Registrar of the Financial Service Authority (MC 72/2018) [2018] SCSC 958 (24 October 2018);

Legislation considered: 

IN THE SUPREME COURT OF SEYCHELLES

Civil Side no: MC72/2018

       [2018] SCSC 958

 

Blue Internet Service Limited                                 Applicant

vs

Registrar of the Financial Services Authority      Respondent    

 

Heard:             24 October 2018                    

Counsel:          Mrs. Samantha Aglae for Applicant 

                        Mr. Elvis Chetty for Respondent

Delivered:       24 October 2018        

 

ORDER

M. TWOMEY, CJ

 

[1]       The Applicant is an international business company with company number 195773 incorporated under the International Business Companies Act (IBC Act).  The Respondent is the Financial Services Authority with the responsibility, inter alia, for the registration of international business companies.

[2]       The Applicant underwent the process of voluntary winding up pursuant to section 281 of the IBC Act and was dissolved on 21 May 2018 but was not struck off the Register of International Business Companies.

[3]       The Applicant is now applying for its restoration to the Register pursuant to section 277 of the IBC Act.

[4]       It has supported its application by an affidavit sworn by Ashwin Bhanderi, the liquidator of the Applicant Company. No reason is given for the application for restoration to the Register.

[5]       However, section 277(2) of the IBC Act permits such application to the court if made within five years of the date of dissolution of the company when such dissolution was inter alia voluntary. 

[6]       I am satisfied having examined the pleadings and the affidavit supporting the application that it would be appropriate in the circumstances to rescind the dissolution of the Applicant Company.

[7]       I therefore order the dissolution rescinded and the restoration of Blue Internet Services Limited the Register of International Business Companies.

 

Signed, dated and delivered at Ile du Port on 24 October 2018.

M. TWOMEY
Chief Justice