TaxTMI 
TaxTMI 
2017 (1) TMI 684
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....eturn) within prescribed period to the office of registrar of companies. Mr. Anil Kumar PCS, appearing for petitioner pursuant to the direction of this tribunal also submitted Written Submissions dated 28.11.2016. In his Written Submissions he has duly explained the reason for delay occurred in filing annual return specifically in Para 6 of Written Submissions. For convenience para 6 to 8 of Written submission are reproduced below:- 6. That the delay occurs due to the following reasons: I. The Elected Members of the Committee of Administration are small exporters of Carpets from all Over India. II. Most of the Elected Members do not have their DIN Number as they are either from Proprietorship firm or Partnership firm and do not pos....
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....taking lenient view. b. Such further Order or other Orders be made and or directions be given as it may deem fit and proper. We have considered the submission of the learned PCS appearing for the petitioner. The office of Registrar of Companies has proposed to launch the prosecution against the Company for the violation of Section 92(5)(6) of the Companies Act, 2013. We examined the contents of the compounding petition. The petitioner has explained that petitioner company is an association of non-profitable organisation and is incorporated as a Company Limited by Guarantee under Section 25 of Companies Act, 1956, incorporated on 12.12.1982. The members of the petitioner company are not equity holder hence they are not entitle....
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....nd a non-profit organisation. It is engaged in activities of support, protect, maintain increase and promote the export of hand knotted carpets, woollen druggets an floor coverings etc. therefore above stated delay in filing of a Annual Return deserved to be condoned and alleged offence under section 92(5)(6) to be compounded with the permission of this tribunal. It is a matter of record that the present petition was initially filed before CLB, New Delhi on 14.07.2015 and pursuant to the direction of CLB, New Delhi a report from office of ROC Kanpur (UP & Uttarakhand) was called for. The ROC vide his report dated 31-7-2015 has submitted that matter may be decided on merits. However, in Point 22 of its report. He also recommended for compoun....
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....ion for such submission, filing, registering or recording, within a period of two hundred and seventy days from the date by which it should have been submitted, filed, registered or recorded, as the case may be, on payment of such additional fee as may be prescribed:" It would be appropriate to mention herein that the Hon'ble SC also came to examine such issue in its decision in the matter of V.L.S. Finance Ltd.'s. Union of India (UOI) and Ors.AIR 2013 SC 3182, (2013) 114 CLA 300 (SC) by examining the relevant provision for compounding the offence it held such can be exercised by CLB & court. A parallel power has been conferred to be exercised by CLB or other authorities mentioned in Companies Act and prior permission of criminal....
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....ng part of the section, in case of conflict, an overriding effect over the provisions of the Act mentioned in the non-obstante clause. 17. Ordinarily, the offence is compounded under the provisions of the Code of Criminal Procedure and the power to accord permission is conferred on the court excepting those offences for which the permission is not required. However, in view of the non-obstante clause, the power of composition can be exercised by the court or the Company Law Board. The legislature has conferred the same power to the Company Law Board which can exercise its power either before or after the institution of any prosecution whereas the criminal court has no power to accord permission for composition of an offence before the in....