IN RE Vs. LLYOD ROCKFIBRES LIMITED AND ORS

JUDGEMENT

(1.) In relation to the offence arising out of non-convening of the Annual General Meetings (AGM) for the year 2014-2015 the applicants above named have filed the above Petition for compounding the offence under Section 96 of the Companies Act, 2013.

(2.) The Applicants claims that delay in holding of Annual General Meeting for the financial year ended 31sl March, 2015 has occurred due to lithography errors in the Annual Report (Including Annual statement of Accounts) and whereby the accurate documents could not reach to the shareholders of the company prior to the date fixed for the Annual General meeting. It is further pleaded in the Petition that the violation committed for not convening the AGM is not willful and that in the circumstances as they have voluntarily 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 years as tabulated in the Petition and which is extracted below:

(3.) The Registrar of Companies has filed a detailed report dated 29.06.2017and 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 compilation, as extracted in paragraph 2 above.