IN RE Vs. LAVA INTERNATIONAL LIMITED

JUDGEMENT

(1.) This petition has been filed u/s 441 of the Companies Act, 2013 praying for compounding of the offence u/s 96 of the Companies Act 2013. The said petition which has been routed through the office of the RoC along with their comments, prays for compounding the offence of not holding the AGM within the period required under the Statute.

(2.) As per the provisions of the Act, every company is required to hold an Annual General Body Meeting within the stipulated time.

(3.) It is submitted by the applicants that the AGM for the year 2014-2015 which should have been held by 30th September, 2015 could be held only on 16th January, 2016. Similarly the AGM for 2015-2016 could be held only on 23rd February, 2017. This was due to the requirement for revising the Financial Statements.