IN RE Vs. INDO BRITISH GARMENTS PRIVATE 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 and 166 of the Companies Act 2013 and 1956 respectively. 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 2012-2013 which should have been held b}^ 30th September, 2013 could be held only on 7th December, 2013. Similarly the AGM for 2015-2016 which should have been held on 30th September 2016 could be held only on 27th July, 2017. This was due to non-availability of the Audited Annual Accounts of the Company.