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2019 (8) TMI 271 - Tri - Companies LawCompounding of default in compliance with the provisions of Sections 159 and 220 of the Companies Act, 1956 - non-filing of annual return and balance sheet and profit and loss account for the financial year 2013-14 - Applicants have pleaded that the default was committed only due to inadvertent mistake with no mala fide intentions on part of the Applicants and it is not likely to cause any prejudice to either the members of the Applicant Company or any other party. HELD THAT:- The Registrar of Companies has filed a detailed report, a perusal of which shows that prosecution in relation to the offence has been filed and pending before the Hon'ble Tis Hazari Court. That no similar offence has been compounded during the last 3 years. It is further represented that the company has filed the Balance Sheet and Annual Return for the Financial Year ended 31.03.2016. Further, it is also represented by the RoC in the report that no complaint has been received against the Applicant Company and that there is no inspection or investigation proceeding pending against the Applicant Company. Since the offence is said to have been committed under the erstwhile provisions of companies Act, 1956, this Tribunal has the power to compound such like offences attendant with such like punishment as in the present one and even if prosecution is pending before Criminal Court and also taking into consideration the change in law on and from 09.02.2018 to Section 441 (1) as brought forth by companies Amendment Act, 2017 (1 of 2018) this Tribunal has the power to compound the offence as brought forth in this application. In relation to the provision above it is seen that the defaulter has made good the default - This Tribunal is of the view it will be fit and proper to impose the following fine on the applicant company aggregating in all to ₹ 865,600/- for the FY 2013-14. Subject to the remittance of the fine, the offence shall stand compounded - application disposed off.
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