https://www.taxtmi.com/caselaws?id=211655 Default in holding an annual general meeting under the Companies Act, 1956 attracts penal consequences but does not extinguish the company's power to convene the meeting later. The court also accepted that, in appropriate proceedings, corporate affairs may be regulated to implement binding higher-court directions and secure statutory compliance. Delay in acting on Supreme Court directions and the status quo ante arrangement did not invalidate fresh notices for the overdue annual general meetings, since the later steps were directed to give effect to those orders. Amounts brought in by Sajal Dutta could not be shown as a disputed liability where that treatment would be inconsistent with the binding directions and proper accounting practice. en-us Wed, 28 Mar 2012 00:00:00 +0530 Tue, 12 Feb 2013 10:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=211655 Default in holding an annual general meeting under the Companies Act, 1956 attracts penal consequences but does not extinguish the company's power to convene the meeting later. The court also accepted that, in appropriate proceedings, corporate affairs may be regulated to implement binding higher-court directions and secure statutory compliance. Delay in acting on Supreme Court directions and the status quo ante arrangement did not invalidate fresh notices for the overdue annual general meetings, since the later steps were directed to give effect to those orders. Amounts brought in by Sajal Dutta could not be shown as a disputed liability where that treatment would be inconsistent with the binding directions and proper accounting practice. Case-Laws Companies Law Wed, 28 Mar 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=211655