TMI Blog2019 (11) TMI 1813X X X X Extracts X X X X X X X X Extracts X X X X ..... ranted to them. Petition allowed. - Hon'ble Mr. Justice P.D. Audikesavalu For the Petitioner : Mr. C.V. Shailandhran. For the Respondents: Mr. Venkatasamy Babu, Senior Central Government Standing Counsel. ORDER Heard Mr. C.V. Shailandhran, Learned Counsel appearing for the Petitioner and Mr. Venkatasamy Babu, Learned Senior Central Government Standing Counsel appearing on behalf of the Respondents and perused the materials placed on record, apart from the pleadings of the parties. 2. In this Writ Petition, the list dated 01.11.2017 published by the Registrar of Companies, Tamil Nadu, Chennai uploaded in the website of the Ministry of Corporate Affairs, New Delhi disqualifying the Petitioner to hold the Offi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 5 and 22 of the counter affidavit that the default of filing statutory returns for the financial years commenced from 2013-14, 2014-15 and 2015-16 i.e., one year before the Act 2013 came into force. This is the basic incurable legal infirmity that vitiates the entire impugned proceedings. (c) By virtue of the first proviso to Section 96 (1) of the 2013 Act, Annual General Meeting for the year ending on 31.3.2017 can be held within six months from the closing of financial year i.e., 30.9.2017, additionally in the light of Section 164(2)(a) referring to annual return and financial statement , the time limit to file annual return under Section 92(4) of 2013 Act is sixty days from Annual General Meeting or the last date on which Annual ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... company who is in default shall be punishable with imprisonment for a term which may extend to six months or with fine which shall not be less than fifty thousand rupees but which may extend to five lakh rupees, or with both. Again under Section 137, the failure to file the financial statement visits punishment with imprisonment for a term which may extend to six months or with fine which shall not be less than one lakh rupees but which may extend to five lakh rupees, or with both. Further, under Section 441(4), the default in filing returns or accounts compoundable by Tribunal or Regional Director or by any officer authorized by the Central Government. (f) In view of the above legal position, when the default in filing the accounts ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s can be disqualified without prior notice. (g) However, it is made clear beyond any pale of doubt that the mischief of removal of the names of the companies by the Registrar of Companies and the disqualification of the directors in the defaulting company will go together, as it is inseparable, and the Registrar of Companies need not give fresh notice to the directors for their disqualification from the dormant company, if there is a failure to file the financial statement or annual return for any continuous period of three financial years as per Section 164(2)(a). 30. For all the aforementioned reasons, the impugned orders are set aside and the writ petitions shall stand allowed. Consequently, all the connected writ miscellaneo ..... X X X X Extracts X X X X X X X X Extracts X X X X
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