https://www.taxtmi.com/caselaws?id=281625 Criminal complaints alleging default in filing annual return, balance sheet and profit and loss account under the Companies Act could not be sustained where the company had applied under the Simplified Exit Scheme and the record showed compliance with the required statutory filings. The materials also indicated that the balance sheet and profit and loss account had been filed with the complainant, so no subsisting default remained to support prosecution under sections 159, 220 and 162. On that basis, the complaints were held not maintainable and the criminal proceedings were liable to be quashed. en-us Mon, 10 Sep 2018 00:00:00 +0530 Fri, 28 Jun 2019 10:25:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=281625 Criminal complaints alleging default in filing annual return, balance sheet and profit and loss account under the Companies Act could not be sustained where the company had applied under the Simplified Exit Scheme and the record showed compliance with the required statutory filings. The materials also indicated that the balance sheet and profit and loss account had been filed with the complainant, so no subsisting default remained to support prosecution under sections 159, 220 and 162. On that basis, the complaints were held not maintainable and the criminal proceedings were liable to be quashed. Case-Laws Companies Law Mon, 10 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=281625