TMI Blog2017 (1) TMI 1303X X X X Extracts X X X X X X X X Extracts X X X X ..... f 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. - C.A. NO. 320/621A/CB/2014 (T.P. O. 137/HDB/2016) - - - Dated:- 9-12-2016 - MR. RAJESWARA RAO VITTANALA AND MR. RAVIKUMAR DURAISAMY, JJ. For The Applicant : Mr. A Ravi Shankar, Practicing Company Secretary ORDER (As per Ravikumar Duraisamy, Member (Technical)) 1. The Application was initially filed before Hon'ble Company Law Board, Chennai Bench, Chennai. Since, National Company Law Tribunal, Hyderabad Bench has been constituted for the cases pertaining to the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 4 of the Companies Act, 1956 every company having a share capital, may, if so authorised by its articles, can increase its share capital by such amount as it thinks expedient by issue of new shares and alter the Memorandum and Articles of Association provided that the approval of members is taken approving for such increase and alteration of memorandum and articles accordingly. However, the company has infringed the aforesaid provisions as the company has increased the share capital of the company without the approval of members. Pursuant to the Section 209A of the Companies Act, 1956 Registrar of Companies has conducted the inspection of the records and a show cause notice dt. 01-04-2011 was issued to the company stating the violation of S ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h and the Paid-up Capital of the company is ₹ 5,10,00,000/- (Rupees Five Crore Ten Lakhs Only) divided into 51,00,000 Equity Shares of ₹ 10/- each. 5. Show cause notice No. RAP/KRR 209A/Sec.94(2)/2011/2983 dated 01.04.2011 was issued by the Deputy Registrar of Companies, Hyderabad for the States of Andhra Pradesh and Telangana. It is stated that the company Monarch Ergonomics India Pvt. Ltd. was ordered for inspection by the Ministry of Corporate Affairs, Government of India, vide Directorate's letter No. RD/IW/1/2010, dated 05-02-2010 under section 209A of the Companies Act, 1956. In pursuance of such directions, the Assistant Registrar of Companies, Hyderabad had conducted inspection of the company and observed that the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e the contravention is continuing one, with a further fine which may extend to five hundred rupees for every day after the first during which the contravention continues. 8. In view of the above facts and circumstances and in the interest of justice we pass the order as follows: (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, ..... X X X X Extracts X X X X X X X X Extracts X X X X
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