IN RE Vs. PERNOD RECARD INDIA PVT LTD

JUDGEMENT

(1.) This petition has been filed u/s. 621A of the Companies Act, 1956 praying for compounding of the offence u/s. 217(2A) of the Companies Act. It is submitted that upon a technical scrutiny of the Balance Sheet for the financial year ending 31.03.2010, carried out by the office of the RoC, it was observed that the company had not disclosed in the Board Report dated 15.11.2010, whether any employee was a relative of any Director or Manager of the company. The Annexure to the Balance Sheet and Profit & Loss Statement which formed a part of Board's Report was also not signed by the required number of directors as per statutory requirement.

(2.) As per the provision of Section 217(2A) of the Companies Act, 1956:

(3.) The period of default has been observed for the financial years ending 31.03.2002 to 31.03.2011. Prosecution has been initiated against the petitioners. The aforesaid offence attracts a punishment of imprisonment for a term which may extend to six months or with fine which may extend to Rs. 20,000/- or with both.