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2017 (1) TMI 1303 - Tri - Companies LawCompounding of offence - Held that:- i) We are imposing a penalty of ₹ 2,50,000/- (Rupees Two Lakh Fifty thousand only) on the Applicant Company and ₹ 50,000/- (Rupees Fifty thousand only) each on Applicant 2 & 3 which is to be paid within 3 weeks from the date of receipt of the Order and report compliance of the same. (ii) From the available records it is understood that the company has not obtained shareholders approval as required u/s. 94 of the Companies Act, 1956. Therefore, we direct the company and the directors to pass appropriate resolution within one month from the date of receipt of this order and report compliance to Registrar of Companies, Hyderabad as well as to the Registry. The Applicants are warned not to repeat any violation else strict action will be taken thereby. In view of the above, the case is disposed off.
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