TMI Blog2019 (7) TMI 1145X X X X Extracts X X X X X X X X Extracts X X X X ..... tal amount is calculated, we find that penal amount is less than 33% of the total maximum penal amount payable. The Tribunal having taken lenient view on the ground that new Act has been introduced, we are not inclined to accept the same though we are of the view that the provisions of Act of 2013 are practically similar to the provisions as were there already in Companies Act, 1956. Hence, we find no merit in the appeal. The appeal is dismissed. No cost. - Company Appeal (AT) No. 28 of 2019. - - - Dated:- 31-1-2019 - SUDHANSU JYOTI MUKHOPADHAYA J. (Chairperson) and BANSI LAL BHAT J. (Judicial Member) For Appellant : Mr. Rakesh Kumar, Mrs. Preeti Kashyap and Mr. Aashish Khattar, Advocates ORDER The app ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o five lakh rupees, or with both. 3. For offence under Section 135(5), general penal provision of Section 450 is applicable and reads as follows: 450. Punishment where no specific penalty or punishment is Provided If a company or any officer of a company or any other person contravenes any of the provisions of this Act or the rules made thereunder, or any condition, limitation or restriction subject to which any approval, sanction, consent, confirmation, recognition, direction or exemption in relation to any matter has been accorded, given or granted, and for which no penalty or punishment is provided elsewhere in this Act, the company and every officer of the company who is in default or such other perso ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Financial year Days Amount in (Rs.) 134(3)(o) read with 135(2) of the Companies Act, 2013 2014-15 5,00,000 2015-16 5,00,000 2016-17 5,00,000 135(5) of the Companies Act, 2013 2014-15 1-4-2015 to 31-3-2018 (1,095 days) 11,04,000 2015-16 1-4-2015 to 31-3-2018 (730 days) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 135(5) of the Companies Act, 2013 2014-15 15-3-2018 to 31-3-2018 (16 days) 25,000 2015-16 15-3-2018 to 31-3-2018 (16 days) 25,000 2016-17 15-3-2018 to 31-3-2018 (16 days) 25,000 5. Mr. Kartar Singh Section Financial year Days Amount in (Rs.) 134(3)(o) read with 135(2) of the Compa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 7 lakhs Kartar Singh 2 lakhs 5 lakhs 7 lakhs 6. Learned counsel appearing on behalf of the appellant referred to Item No. 4 of the Chart supplied by the Registrar of Companies which had not recommended any amount for the offence under Section 134(3) but in spite of the same, the Tribunal imposed fine of Rs. Two Lakhs. With regard to Mr. Kartar Singh, it was submitted that he had left the post on 5th December, 2015. In Item No. 5, the Registrar of Companies had not calculated the delay and recommended to impose penalty of Rs. Five Lakhs. 7. It is accepted that Mr. Bodh Raj Sh ..... X X X X Extracts X X X X X X X X Extracts X X X X
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