BINNY LIMITED Vs. REGISTRAR OF COMPANIES, SOUTHERN REGION

JUDGEMENT

(1.) Under consideration is an application which has been filed before the Registrar of Companies, Tamil Nadu and Andaman & Nicobar Islands, Chennai for compounding of the offences u/s. 621A, for violation of the provisions of Section 211 of the Companies Act, 1956 r/w AS 13 of the said Act. The Deputy Registrar of Companies, along with his report dated 30.05.2017, has forwarded the Application to the Registry of this Bench which has been numbered as CA/59/441/2017.

(2.) Shri Aravind Nandagopal, Managing Director of the company is the Applicant. He has filed e-form No. GNL-1 under SRN: C56138449 dated 18.06.2015. The RoC made technical scrutiny of the Balance sheet of the company for the financial year ended on 01.04.2010 to 31.03.2013 and the statutory auditor have observed that the diminution in the value of investments have not been complied with the requirements of AS 13 during the aforesaid financial year and hence the requirement of section 211 r/w AS 13 of the Act has been violated.. The applicants made prayers which are as follows:

(3.) The committal of offence relates to the period 01.04.2010 to 31.03.2013. The maximum amount of fine under the charging section as calculated by the ROC, Tamilnadu, Chennai in his report dated 30.05.2017 are as follows:-