TMI Blog1960 (3) TMI 22X X X X Extracts X X X X X X X X Extracts X X X X ..... Limited, under section 633 of the Companies Act for relieving the company and its directors and officers from liability for default in complying with the provisions of sections 210, 220 and 159 of the Act in not having the accounts audited and the balance sheet and profit and loss account for the financial year ending July 31, 1958, prepared and laid before the shareholders in the annual general ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the seizure of the account books, and consequently these processes have also been impossible for subsequent years. It appears that in fact similar petitions have previously been filed and dealt with by the learned District Judge and a similar application relating to the previous year's accounts was allowed by the learned District Judge by his order dated November 6, 1959. The petition was oppose ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ement of its income and expenditure and a statement of its receipts and payments based on the account books which are admittedly now being maintained. The learned Government Solicitor, however, drew a distinction between the default under sections 210 and 220 and the default under section 159, which requires an annual return to be made by the company within 42 days of the annual general meeting ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and receipts and payments for the year ending July 31, 1958, based on the accounts now maintained by the company are furnished, and also a statement of the particulars required under section 159 of the Act as nearly as possible in conformity with the form set out in Part II of Schedule V of the Act. The parties will bear their own costs on the application. - - TaxTMI - TMITax - Corporate Laws ..... X X X X Extracts X X X X X X X X Extracts X X X X
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