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2022 (4) TMI 1629 - HC - Indian LawsChallenge to SCN - SCN silent as to period and amounts mentioned as required under sub-Section (2) of Section 205C of the Companies Act 1956 - failure to file E Form 5 INV - Section 205C r/w. Section 629A of the Companies Act 1956 - HELD THAT - The cause of action for filing this complaint is that every company shall within 90 days after holding its Annual General Meeting or the date on which it should have been held and every year thereafter till completion of seven years period identify the unclaimed amounts as referred to in sub- Section (2) of Section 205C of the Act and upload on its own website and also on the Ministry s website or any other website specified by the Government through the E Form 5 INV giving details as aforesaid. Petitioners have not filed E Form 5 INV as required leading to filing of this complaint. The complaint allegation shows that petitioners have not filed E Form 5 INV as required in the show cause notice issued dated 21.07.2014 given by the respondent. However it is the case of the petitioners that they gave reply dated 28.07.2014 explaining their position and requesting dropping the further action. The complaint allegation shows that no reply was received from the petitioners. Copy of the reply dated 28.07.2014 sent by the first petitioner shows that the reply was received by the office of the Registrar of Companies on 30.07.2014. Petitioners 2 to 4 had also sent a reply dated 05.08.2014 reading the reply dated 28.07.2014 of the first petitioner. Their reply were received in the office of the Registrar s office on 08.08.2014. Therefore it is clear that the allegation made in the complaint that respondent s show cause notice dated 21.07.2014 was not replied by the petitioners is not correct. It is true that the show cause notice dated 21.07.2014 had just reproduced the Section 205C of the Companies Act 1956. Though the amounts referred in (a) to (g) are liable to be credited to Investors Education and Protection Fund. The show cause notice is not specific about which one among these amounts is liable to be credited to Investor Educations and Protection Fund. In so far as the petitioner s company the allegation against the petitioners is that unpaid dividend amount of Rs. 10, 00, 000/- for the period ending 31.03.2013 was not uploaded in the website. Then the show cause notice is expected to refer only that particular default committed by the petitioners. Reproduction of part of Section 205C of Companies Act 1956 cannot be appreciated. This Court finds that the show cause notice was defective non consideration of reply sent by the petitioners amounts to non application of mind depriving petitioners to set up a valid defence and therefore the complaint is unsustainable in law - Petition allowed.
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