IN RE Vs. UNITECH INFRA LIMITED

JUDGEMENT

(1.) This petition has been filed u/s 441 of the Companies Act, 2013 praying for compounding of the offence u/s 211(3A) of the Companies Act, 1956 r/w AS-13. It has been observed that the company has, not disclosed details of dividend received from investment from its subsidiary company in its profit and loss account for the period from 01.04.2010 to 31.03.2011. This is in contravention of Section 211 (SAasit did not adhere to the requirements of AS 13 of the Accounting Standards issued by the ICAI.

(2.) As per section 211(3A) of the Companies Act, 1956:-

(3.) The petitioner's offence relates to the period for the F.Y 2010-2011, 2011-2012 and 2012-2013. As per the RoC, it is a one time default and the petitioners undertake that they shall take due care in future to ensure that there are no alleged contraventions of the like nature.