2019 (1) TMI 1826

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... (T) For the Appellant : Aparna Nene, Practising Company Secretary ORDER V. NALLASENAPATHY, MEMBER (T) 1. This Compounding Application was filed before the Registrar of Companies, Mumbai on 11.05.2018 and the same has been forwarded along with the RoC Report to NCLT, Mumbai Bench. The Ld. Registrar of Companies intimated that the Applicant Company has filed the aforementioned Compoundi....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....to put the matter to rest. Submissions: 4. The Learned Representative for the Applicants/Defaulters herein, submitted that, the Contravention of the said provisions of the Act was bona fide and without any mala fide intention. The Company and its Officers inadvertently have not complied with the said provisions of the Act. Findings: 5. Accordingly, by going through the facts of the cas....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....r" "Section 137(3): If a company fails to file the copy of the financial statements under sub-section (1) or sub-section (2), as the case may be, before the expiry of the period specified in section 403, the company shall be punishable with fine of one thousand rupees for every day during which the failure continues but which shall not be more than ten lakh rupees, and the managing direct....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....n for compounding of offence committed under Section 137(2) of the Companies Act, 2013, merits consideration. 7. On examination of the circumstances as discussed above a Compounding Fee of Rs. 2,94,000/- for Company & Rs. 1,00,000/- each for 2 Directors (i.e. Rs. 2,00,000/-), which works out to Rs. 4,94,000/- in total by applicant/defaulters herein, stated in the Defaulters list, shall be suffi....