https://www.taxtmi.com/caselaws?id=101416 After the 1977 amendment to section 220(3) of the Companies Act, 1956, failure to file the balance-sheet and profit and loss account within thirty days of the latest date by which the annual general meeting should have been held constitutes a default even if no meeting was actually held. Directors fall within the expression "officer" and are liable as officers in default where they knowingly omit compliance after notice and no lawful excuse is shown. Because punishment is linked to a daily fine for continuing non-compliance, the offence is treated as continuing, so prosecution is not wholly barred by limitation and may proceed for the period within six months before cognizance. en-us Wed, 11 Sep 1985 00:00:00 +0530 Thu, 09 Feb 2012 17:00:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=101416 After the 1977 amendment to section 220(3) of the Companies Act, 1956, failure to file the balance-sheet and profit and loss account within thirty days of the latest date by which the annual general meeting should have been held constitutes a default even if no meeting was actually held. Directors fall within the expression "officer" and are liable as officers in default where they knowingly omit compliance after notice and no lawful excuse is shown. Because punishment is linked to a daily fine for continuing non-compliance, the offence is treated as continuing, so prosecution is not wholly barred by limitation and may proceed for the period within six months before cognizance. Case-Laws Companies Law Wed, 11 Sep 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=101416