2014 (4) TMI 1021

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....Oral) 1. This is an appeal filed under Section 10F of the Companies Act, 1956 impugning an order 17.02.2014 passed by the Company Law Board under Section 621A of the Companies Act, 1956. The said order hereinafter referred to as the 'impugned order'. 2. By the impugned order, the Company Law Board has allowed the application being CA No. 16/440/13 filed by the respondent company and its offi....

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....ial years 2002-03 to 2013-2014, by imposing a penalty of Rs.60,000/- on the respondent company and Rs.36,000/- on each of its officers under section 25(8) of the Act and further imposing a penalty of Rs.48,000/- on the respondent company and Rs.24,000/- on each of its officers under section 192 of the Act. 4. It is a grievance of the appellant that the Board of Directors of the company (referre....

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....morandum of Association is altered. It is stated that under guise of compounding an offence under Section 25(8) of the Act the Committee of Administrators were attempting to introduce a completely new set of Articles of Association. 5. It is apparent from the pleadings and submission made by the learned counsel for the appellant that the appellant is aggrieved by certain actions of the company ....

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....principal grievance of the appellant is not against the compounding of the alleged offences but against the introduction of a new set of Articles of Association, which the appellant contends is without due sanction of the members of the company. It is not necessary in these proceedings to adjudicate whether a new set of Articles of Association has been filed or whether the same has the approval of....