RAMA CAST LTD Vs. ASST REGISTRAR OF COMPANIES

JUDGEMENT

(1.) - This revision petition is directed against the conviction and sentence passed by the Learned Magistrate against the present petitioners under Section 220(3) of the Companies Act. The facts are briefly as follows:

(2.) Opposite party, the Assistant Registrar of Companies, filed a petition of complaint under Section 220(3) read with Section :162(1) .of the Companies Act, 1956 alleging that M/s. Rama Cast Limited and the Directors who are the petitioners No. 2 to 4 herein, of the Company, were under statutory obligation to file three copies of Balance-Sheet and Profit & Loss Account placed in the Annual General Meeting within 30 days, that the Annual General Meeting of the Company should have been held on or before 30.6.81 and the Balance Sheet, etc., were required to be produced in the office of the complainant on or before 29.7.1981 but that the petitioners caused did not file the Balance Sheet and Profit & Loss Account as on 31.12.1980 inspite of show case-notice. That is how they have contravened the provisions of Section 220(1) of the Act and are liable to be prosecuted and punished under that section read with Section 162(1) of the Act.

(3.) The learned Magistrate on considering the evidence produced by the complainant as well as by the present petitioners cause to the finding that the prosecution has been alibi to prove the charge against the accused petitioners, that the accused persons are responsible for the default regarding non-submission of the Balance Sheet and Profit & Loss Account and liable to be punished under Section 220(3) of the Companies Act. So he convicted all the petitioners under that Section and sentenced the petitioner No.1 to a fine of Rs.200 only and the other petitioners to a fine of Rs.200 each in default to S.I. for 5 days each. He also directed to the prosecution as costs.