https://www.taxtmi.com/caselaws?id=338223 The case was transferred to the National Company Law Tribunal, Hyderabad Bench from the Company Law Board, Chennai Bench. The company, Monarch Ergonomics India Pvt. Ltd., admitted to increasing its share capital without member approval, violating Section 94(2) of the Companies Act, 1956. The company applied for compounding the offence, acknowledging the oversight. Penalties of Rs. 2,50,000 on the company and Rs. 50,000 on each director were imposed, to be paid within three weeks. The company and directors were directed to pass the required resolution within one month and report compliance, with strict warnings against future violations. en-us Fri, 09 Dec 2016 00:00:00 +0530 Mon, 30 Jan 2017 06:39:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=338223 The case was transferred to the National Company Law Tribunal, Hyderabad Bench from the Company Law Board, Chennai Bench. The company, Monarch Ergonomics India Pvt. Ltd., admitted to increasing its share capital without member approval, violating Section 94(2) of the Companies Act, 1956. The company applied for compounding the offence, acknowledging the oversight. Penalties of Rs. 2,50,000 on the company and Rs. 50,000 on each director were imposed, to be paid within three weeks. The company and directors were directed to pass the required resolution within one month and report compliance, with strict warnings against future violations. Case-Laws Companies Law Fri, 09 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=338223