https://www.taxtmi.com/caselaws?id=99438 The High Court overturned the acquittal of respondents under section 162 of the Companies Act, 1956 for failing to file the annual return. Emphasizing the strict liability nature of the current Act, the Court held that non-compliance is punishable regardless of wilful intent. Directors were deemed responsible for convening annual general meetings and filing returns, irrespective of quorum formation. The respondents were convicted, fined for default, and one was remanded for re-trial. The judgment stressed timely compliance with statutory obligations, holding companies and officers liable for non-compliance, even without wilful default. en-us Mon, 11 Aug 1975 00:00:00 +0530 Fri, 27 Jan 2012 13:11:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=99438 The High Court overturned the acquittal of respondents under section 162 of the Companies Act, 1956 for failing to file the annual return. Emphasizing the strict liability nature of the current Act, the Court held that non-compliance is punishable regardless of wilful intent. Directors were deemed responsible for convening annual general meetings and filing returns, irrespective of quorum formation. The respondents were convicted, fined for default, and one was remanded for re-trial. The judgment stressed timely compliance with statutory obligations, holding companies and officers liable for non-compliance, even without wilful default. Case-Laws Companies Law Mon, 11 Aug 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=99438