IN RE Vs. ZETASOFT TECHNOLOGIES PRIVATE LIMITED

JUDGEMENT

(1.) Per MS. INA MALHOTRA, MEMBER (J) This petition has been filed on behalf of the company and its Directors u/s 441 of the Companies Act, 2013/ 621A of the 1956 Act 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 its first AGM(i.e for 2013-2014) as well for the next Financial year i.e 2014-2015 within the period as mandated under the Statute.

(2.) As per the provision of Section 96(1) of the Companies Act, 2013:

(3.) As per averments, the First AGM which should have been held by 31st December 2014 and the second one by 30th September 2015, could only be held on 25.09.2016, i.e with a delay of 634 days and 361 days respectively, thus violating the provisions of Section 96 of the Companies Act, 2013. The default has since been made good.