TMI Blog2016 (11) TMI 126X X X X Extracts X X X X X X X X Extracts X X X X ..... at large. Moreover, it could not benefit the company in anyway. It is also not in dispute that the company has also informed the Registrar of Companies by filing Form GNL-2 though the Form required is GNL1. Since the offence in question is one committed by the company and all its 4 directors and, we are permitting composition of the offence, we thought fit and proper, to permit compound of offence in respect of other two directors also i.e. Sri Sridhar Chandrasekaran Nivarthi and Sri Sabbineni Surendra. We are of the considered view that the instant case is a fit case to allow. Hence, we have considered the delay of 180 days approximately with direction to all the applicants of the present application and, also other 2 directors, who ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r Sri S. Nageswara Reddy, the learned Counsel for the applicant, perused the application, and also the report of the Registrar of Companies (RoC), Hyderabad for states of Telangana and Andhra Pradesh, forwarded vide letter No. ROCH/Legal/Sec. l49A/JPCL/STACK/2016/650 dated 6.05.2016. 4. It was submitted that the Company, Jalpower Corporation Limited was incorporated as a limited company on 25.08.2004 under the Companies Act 1956 with Registration No.U40109TG2004PLC043985 at Hyderabad. The authorised capital of the company as on 31.03.2015 is ₹ 200,00,00,000/- (Rupees two hundred crores divided into 20,00,00,000/- (Rupees twenty crores only) Equity shares of ₹ 10/- (Rupees ten only) each., and the paid-up capital of the compan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 15 Directors. The Central Government, vide Notification No.GSR 259(E), dated 31.03.2014, promogulated the Companies (Appointment and Qualification of Directors) Rules, 2014. As per Rule 3, every listed company and every other public company, which are incorporated under the Companies Act 2013, having a paid-up share capital of 100 crore rupees or more, or turnover of 300 crore or more, shall appoint at least one Woman Director . It is also provided therein, such appointment of Woman Director shall be made within a period of six months from date of its incorporation. 8. The applicants stated that the company has appointed a woman Director namely Ms Karnati Vasantha Lakshmi on 01.04.2015 and, also filed DIR-12 with Registrar of Companie ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e was posted for examination of the accused under Section 251 of Cr PC and, the next date of hearing was 23.05.2016. The Company has filed only form GNL 2 but Form GNL1 is required to be filed and thus requested the Tribunal to direct the Company to file the same. 11. Officer and Officer who is in default are defined under Section 2(59) (60) of the Companies Act 2013. According to Sec 2(59), Officer includes any director, manager or key managerial personnel or any person in accordance with whose directions or instructions, the Board of directors or anyone or more of the directors is or are accustomed to Act. According to S 2(60), the following officers of the company are named as defaulting officers of the purpose of application of p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ts Board of Directors. So the Registrar of Companies has rightly issued show cause dated 25.08.15 to the Company and, all its 4 directors. However, the present Company application has been filed by the Company and only two of its directors. As per the above definition, the Company and all its directors are officers in default, are liable for violation of the provisions as mentioned above. 13. It is not in dispute that the violation in question was made good by appointing a woman director however with a delay. The company was registered on 25.08.2004. The appointment of woman director was introduced in the Companies Act 2013 and, relevant provision came into affect from 01.4.2014. So the delay of 180 days in complying with the said provis ..... X X X X Extracts X X X X X X X X Extracts X X X X
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