IN RE Vs. GSR BUSINESS SERVICES PRIVATE LIMITED

JUDGEMENT

(1.) Under consideration is an Application which has been filed by Petitioner(s) before the Registrar of Companies, Tamil Nadu and Andaman & Nicobar Islands, Chennai, for compounding of the offences committed under Section 96 read with Section 129 of the Companies Act, 2013. These provisions were brought into force on 1st of April 2014. The Deputy Registrar of Companies, along with his Report dated 27.06.2017, has forwarded the Application to the Registry of this Bench, which has been numbered as CA/14/(441) /CB/2018.

(2.) The Petitioners are the Company and its three officers who have filed E-form No.GNL-1 under SRN: C64525793 for violation of the provisions of Sub-Section (1) of Section 96 of the Companies Act, 2013. The offence arose when the Company and its Officers failed to convene the Annual General Meeting (AGM) on or before 30.09.2015 for the financial year ended 31.03.2015.

(3.) It is stated that the Petitioner Company made an Application before the Registrar of Companies, for according approval for extension of the AGM for a period of three months to be held on or before 31.12.2015. The time was extended but the AGM was actually convened and held on 14.03.2016. There is delay of 164 days in holding of AGM for the financial year ended 31.03.2015. Hence, the Company and its Officers who are Directors have violated the provisions of Sub-Section (1) of Section 96 read with Section 129 of the Companies Act, 2013.