IN RE Vs. SAFAL BUILDCON PVT LTD

JUDGEMENT

(1.) Mr. Mahesh C. Gupta, Learned PCS for Mr. Rupeshkumar B. Brahmbhatt & Mr. Rahesgjynar B. Brahmbhatt present.

(2.) This application is filed by Shri Rupeshkumar B. Brahmbhatt & Rajeshkumar B. Brahmbhatt who are the Directions of M/s. Safal Buildcon Pvt. Ltd. under section 621A of the Companies Act, 1956 for violation of section 210 of the Companies Act, 1956.

(3.) The annual general meeting of the company for the Financial Year ended on 31.3.2013 was held on 12.09.2014, in which the Annual Accounts of the Company for the year ended on 31.03.2013 were approved by the shareholders. Hence there is contravention of Section 210 of the Companies Act 1956. According to the report of the Registrar of Companies, Gujarat, Ahmedabad, the violation committed by the applicants/two directors is under section 210 of the Companies Act, 1956. Further according to the report of the Registrar of Companies, Gujarat, Ahmedabad the period of default is 31.03.2013. This application is filed by the applicants on 25.02.2015 before Registrar of Companies, Gujarat, Ahmedabad under section 621-A of the Companies Act, 1956. Here it is pertinent to mention that section 129 of the Companies Act, 2013 came into force on 01.04.2014 whereas section 441 of the Companies Act 2013 came into force w.e.f. 01.06.2016. Since this application was filed on 25.02.2015 and it is registered as Company Application No. 74 of 2015 before then Company Law Board, Mumbai Bench, it means by the date of filing of this application and by the date of registering this application, section 441 of the Companies Act, 2013 did not come into force. Moreover, had this application been disposed of before 01.06.2016, by the then Company Law Board it would have been disposed of under section 621-A of the Companies Act, 1956. The notable difference between 621-A of the Companies Act, 1956 and 441 of the Companies Act, 2013 is that the Tribunal can compound any offence committed by the company or its officers, if it is punishable with fine only after 01.06.2016 whereas, under section 621-A, the offences punishable with imprisonment or fine or both can also be compounded.