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2020 (12) TMI 1136 - Tri - Companies LawRequired expenditure for CSR not made - Wilful Default or not - reason for not spending the CSR amount have not been disclosed in Board Report of Financial Year 2014-15 - violation of section 134 (3) (o) r/w Section 135 (5) of the Companies Act, 2013 - HELD THAT:- It is noticed that the Company had made the default good by opening a Foundation in the name of Anil Arjun Foundation and has also transferred an amount of ₹ 30, 43,162/- to the Bank Account of the Trust - It is also noticed that the Trust Anil Salgaocar Foundation has donated a sum of ₹ 75,000/- to Dadapir G. Chauri Trust for Handicapped. The Trust has also donated a sum of ₹ 25, 00,000/- to Bahujan Hitay for Construction of Girls Hostel in Mapusa, Goa. The said receipts of proof are on record. After considering the submissions made, a Compounding Fee of ₹ 50,000/- by the Company and ₹ 50,000/- by the 2 Directors herein i.e. ₹ 1,50,000/- in total shall be sufficient as a deterrent for not repeating the impugned default in future. The imposed remittance shall be paid by way of Demand Draft drawn in favour of “RoC Mumbai” within 30 days from the receipt of this order - Compounding application disposed off.
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