TaxTMI 
TaxTMI 
TaxTMI 
2019 (6) TMI 135
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....compounding of offences against them for alleged violation of Section 217(1) of the Companies Act, 1956 (Act 1956). 2. Thereafter, the Registrar of Companies, Gujarat, forwarded their Application along with its comments to this Tribunal to be decided on its merits. Thereafter, it is registered in this Tribunal as Company Petition No. 32/441/NCLT/AHM/2018. 3. The averments made in the present Company Application for compounding the offence alleged are stated hereunder; 3.1 M/s. Pranatpal Tradelink Private Limited, is a company, and its registered office is situated at Block No.304, 3639, G.S.C.B., Gota, Ta. Daskroi, Ahmedabad-382 481. Mr. Sandeep Vinodchandra Dave, i.e. the Applicant No.1, Director of the above said Company, and he resig....
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....view of the above observation, the provision of Section 217(1) of the Companies Act, 1956 has been contravened and every officer of the company, in default, have rendered themselves liable to be prosecuted under Section 218 of the Companies Act, 1956. NOW IN VIEW OF what is stated herein above, you are hereby called upon to show cause as to why legal action under Section 218 of the Companies Act, 1956 should not be initiated against the company and every officers of the company, in default. PLEASE NOTE that if no satisfactory reply is received within 10 days from the date of this notice, it will be presumed that you have nothing to say in the matter and there after this office shall have no other alternative but to take legal action as ....
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....violation of not attaching company's board report with the Balance Sheet for the financial year 2010-2011 was unintentional and with no mala fide intention of the directors. 3.5 The applicants further referred to the penal provision under Section 217(5) of the Companies Act, 1956, which reads as under: "If any person, being a director of a company, fails to take all reasonable steps to comply with the provisions of sub-sections (1) to (3), or being the chairman, signs the Board's report otherwise than in conformity with the provisions of sub-section (4), he shall, in respect of each offence, be punishable with imprisonment for a term which may extend to six months, or with fine which may extend to twenty thousand rupees, or with....
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.... comments, which are reproduced hereinbelow: COMMENTS It is submitted that during the course of technical scrutiny of the balance sheet of the company as at 31.03.2011, it was observed that the Boards Report is not attached with the Balance Sheet as at 31.03.2011 as required under section 217(1) of the Companies Act, 1956. Therefore, the officers of the company, in default have violated the provisions of section 271(1) of the Companies Act, 1956. The applicants in para no. 4.7 of the Compounding application submitted that the violation of not attaching board report of the company with the balance sheet of the company for the financial year 2010-11 was totally erroneously and there was no such wrongful intention to the directors. Th....
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....he Company Law Board to National Company Law Tribunal shall be disposed of by this Tribunal in accordance with the provisions of the Companies Act, 2013 or the Companies Act, 1956. 7. The provisions of Section 441 of the Companies Act, 2013, also confers necessary power to this Tribunal, for compounding of certain offences. The section 441 of the Companies Act, 2013 came into force w.e.f 01.06.2016, while the alleged breach of the statutory provisions of Section 217(1) of the Companies Act, 1956 was detected by Registrar of Companies, Gujarat, Dadra and Nagar Haveli, during the course of making scrutiny of company's Balance Sheet of 31.03.2011, such violation/offences are made punishable under Section 217(5) of the Companies Act, 1956,....