PIPING AND ENERGY PRODUCTS PRIVATE LIMITED AND ORS Vs. REGISTRAR OF COMPANIES, NCT OF DELHI AND HARYANA

JUDGEMENT

(1.) In relation to the offence arising out of non-convening of the Annual General Meetings (AGMs) for the financial year 2015-16 by the date of 30th September, 2016, the applicants above named has filed the above Petition for compounding the offence under Section 96 of the Companies Act, 2013 for the year 2015-2016.

(2.) The Petitioner claims that since many of the files and important documents got destroyed due to fire arising out of short circuit during non-working hours and hence the auditor was not in a position to audit the financial statements. It is further pleaded in the Petition that the violation committed for not convening the AGMs is without any malafide intention and that in the circumstances as they have suo motto reported the noncompliance on their own, the same may be duly considered while taking into consideration the imposition of fine, as prescribed under the relevant provisions of the Companies Act, 2013. It is also averred that they have put an end to the offence by convening the AGM for the relevant year on Friday 27th January, 2017.

(3.) The Registrar of Companies has filed a detailed report and a perusal of which shows that no prosecution in relation to the offence has been filed or launched and that similar offence has also not been compounded during the last 3 years. It is further reported that the default has been made good as per details furnished by RoC which is in accordance with the details as extracted in paragraph 2 above. Further, it is also represented by the RoC in the report dated 07.09.2017 that no complaint has been received against the Company and that there is no inspection or investigation proceedings pending against the Company.