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2021 (6) TMI 196 - Tri - Companies LawLevy of fine / penalty - Failure to file the copies of the Annual Returns with the Registrar of Companies, Maharashtra, Mumbai within prescribed time - bona fide delay without any mala fide intention - Financial Years 2003-2004, 2004-2005, 2005-2006, 2006-2007 - violation of section 92 of the Companies Act, 2013 - HELD THAT:- This Bench is of the view that the present CP No. 2393 of 2018 deserves to be allowed, because the alleged violation/contravention of the proviso of the Companies Act, 2013 has already been complied with and the default has been made good by the Company although filed belatedly its Annual Returns for the Financial Years 2003-2004, 2004-2005, 2005-2006 and 2006-2007 - The present Application can be allowed subject to payment of compounding fee and penalty as per the prescribed section 92(5) where the Company and its every officer who is in default shall be liable to a penalty of fifty thousand rupees and in case of continuing failure, with a further penalty of one hundred rupees for each day after the first during which such failure continues, subject to a maximum of five lakh rupees in case of a company and fifty thousand rupees in case of an officer who is in default". The applicant Company is directed to pay ₹ 50,000/- per day from the date of Default and the Directors herein shall be liable to pay fine of Rs. Fifty Thousand/- each by the 2 Directors herein i.e. in total ₹ 1,50,000/- 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 "Registrar of Companies" or any mode of payment as suggested by the office of RoC like deposit in Cash or Challan in Bharat Kosh within 30 days from the receipt of an authentic copy of this Order and copy of this Order may be communicated to the office of RoC for information and further needful action. Application disposed off.
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