IN RE Vs. SIG SAUER (INDIA) PVT LTD

JUDGEMENT

(1.) Prosecution has been launched against the Applicants (1) Mr. Timothy Edward Scullin (2) Mr. Ronald Victor Goslin and (3) Mr. Amaro Goncalves, for having defaulted in filing the Annual Returns and Financial Statements for FY 2012-13. The Regular Directors were untraceable and therefore pursuant to the orders dated 13.05.2013 of the CLB, the applicants were appointed as Additional Directors on 19th July, 2013 in a specially convened EOGM.

(2.) The appointment of the applicants in the record of the ROC in Form 32 could however not be uploaded for want of being digitally signed by a Director on record. Consequently, the tenure of the applicants expired without taking the requisite steps for statutory filing for the Financial Year ending 3 1.03.2013. It is well settled that the term of Additional Directors expires due to operation of law on the date when the AGM of the company ought to have been held.

(3.) This difficulty in uploading the names of the three Additional Directors in the records of the HOC was subsequently taken care of only at the intervention of the CLB. Pursuant to its order dated 5.6.2014, the ROC was directed to take Mr. Steven Jay Shawver on record as an Additional Director through an offline mode.