IN RE Vs. LOVEPAC CONVERTING PRIVATE LIMITED

JUDGEMENT

(1.) Under consideration is an Application which has been filed by Petitioners before the Registrar of Companies, Tamil Nadu and Andaman & Nicobar Islands, Chennai, for compounding of the offences committed under Section 159 (read with Sec.621A) of the Companies Act, 1956. The Deputy Registrar of Companies, along with his Report dated 07.08.2017, has forwarded the Application to the Registry of this Bench, which has been numbered as CA/211/(441) 72017.

(2.) The Petitioners are the Company and its two officers who have filed E-form No.GNL-1 vide SRN No.G43594647 dt. 15.05.2017 for violation of the provisions of Section 159 of the Companies Act, 1956, (Currently Section 92 of the Companies Act, 2013) . The applicants submitted that according to the provisions of Section 159 of the Companies Act, 1956, the first applicant company was required to file with the Registrar, a copy of the Annual Return containing the particulars specified in Part I of Schedule v. of the Companies Act, 1956, within sixty days from the date on which the annual general meeting referred to in Section 166 of Companies Act, 1956 is held, or where the annual general meeting for any year has not been held, on or before the last day by which that meeting should have been held in accordance with the provisions of Companies Act, 1956. The offence arose when the Company and its Officers failed to convene the Annual General Meeting (AGM) within due date and hence there was a delay in filing the Annual Returns as detailed below. <FRM>JUDGEMENT_140_LAWS(NCLT)2_2018_1.html</FRM>

(3.) The Applicant company and its Directors have, Suo Moto, submitted that they would like to compound the said offence under Sec. 159 of Companies Act, 1956 and further submitted that the present application is being filed voluntarily for violation of provisions of Section 159 of the Companies Act, 1956 for the financial years 2011-12 and 2012-13.