M D MUNDHRA Vs. ASSISTANT REGISTRAR OF COMPANIES

JUDGEMENT

(1.) The three petitioners before us, who are directors of Simplex Concrete Piles (India) Private Ltd. (hereinafter the " Company ") having its registered office at 13, Camac Street, Calcutta-17, have in this application impugned the legality of a proceeding instituted against them and the others under Section 210(5) of the Companies Act, 1956 (hereinafter " Act "), on the basis of a complaint filed by the opposite party No. 1, the Assistant Registrar of Companies, West Bengal, in the Court of the Chief Judicial Magistrate at Alipore and have prayed that the proceedings pending against them be quashed.

(2.) The allegations made in the aforesaid complaint in brief was that the balance-sheet and profit and loss account of the company for the year ending December 31, 1975, was placed in the adjourned annual general meeting held on July 30, 1976, after a period of more than six months from the date when the accounts were last submitted and as such there was a violation of Section 210(3)(b) of the Act.

(3.) It appears that the company called the annual general meeting on June 29, 1976, but as on that date, for reasons stated in the petition, the accounts were not ready for laying, the meeting was adjourned till July 30, 1976, when the profit and loss account and the balance-sheet were duly laid.