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2018 (3) TMI 26 - NATIONAL COMPANY LAW TRIBUNAL, ALLAHABADCompounding of alleged offence for violation of Sections 96 and 99 of the Companies Act, 2013 - Held that:- This court possesses necessary jurisdiction to grant permission for compounding of such offence in those cases wherein no punishment of imprisonment or punishment with fine alone. Which is not the case of present petitioner as the contravention of the provision of Sections 96 and 99 of the Companies Act are not attracting punishment of imprisonment and imprisonment with fine. It is a is statutory violation in technical nature attracting penalty of fine simplicitor. The ground made for and submission put forth before us for compounding the alleged offence of contravention of Sections 96 and 99 of the Companies Act, 2013 appears to be reasonable and the court in exercise of its power conferred under section 441 of the Companies Act, 2013 can grant permission for compounding. The present application deserves to be allowed. However, the permission for compounding such offence is granted with such condition, that the petitioner Company shall make payment of fine of ₹ 20,000/- (Rs. Twenty Thousand) and further individual Directors/Applicants shall have to pay fine of Rs. l0000/- (Rs. Ten Thousand). Such amount of fine shall be payable to Central Govt. through the office of the RoC, from the account of petitioner company and or individually by its the then Director, which may be practicable for implementation of this courts direction. The petitioner company make payment of additional fine of ₹ 100 per day for causing delay in convening of its AGM to regularise the delay cause in convening of the AGM for 2016.
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