TMI Blog2019 (8) TMI 271X X X X Extracts X X X X X X X X Extracts X X X X ..... ompany and that there is no inspection or investigation proceeding pending against the Applicant Company. Since the offence is said to have been committed under the erstwhile provisions of companies Act, 1956, this Tribunal has the power to compound such like offences attendant with such like punishment as in the present one and even if prosecution is pending before Criminal Court and also taking into consideration the change in law on and from 09.02.2018 to Section 441 (1) as brought forth by companies Amendment Act, 2017 (1 of 2018) this Tribunal has the power to compound the offence as brought forth in this application. In relation to the provision above it is seen that the defaulter has made good the default - This Tribunal is of the view it will be fit and proper to impose the following fine on the applicant company aggregating in all to ₹ 865,600/- for the FY 2013-14. Subject to the remittance of the fine, the offence shall stand compounded - application disposed off. - CP. NO. 338/441/ND/18 - - - Dated:- 19-3-2019 - SHRI R. VARDHARAJAN, MEMBER (JUDICIAL) For The Applicant : Mr Dillip Maharathi, Company Secretary ORDER 1. This petition is tak ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... [copy] of the balance sheet and [copy] of the profit and loss account shall be filed with the Registrar separately : (b) [Omitted by the Companies (Amendment) Act, 1960.] Provided further that, - (i) in the case of a private company which is not a subsidiary of a public company, or (ii) in the case of a private company of which the entire paid-up share capital is held by one or more bodies corporate incorporated outside India, or (iii) in the case of a company which becomes a public company by virtue of section 43A, if the Central Government directs that it is not in the public interest that any person other than a member of the company shall be entitled to inspect, or obtain copies of, the profit and loss account of the company, no person other than a member of the company concerned shall be entitled to inspect, or obtain copies of, the profit and loss account of that company under section 610. (2) If the annual general meeting of a company before which a balance sheet is laid as aforesaid does not adopt the balance sheet, or is adjourned without adopting the balance sheet, or, if the annual general meeting of a company for any year has not been held ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... from the date on which the offence is so compounded. (c) Where any offence is compounded before the institution of any prosecution, no prosecution shall be instituted in relation to such offence, either by the Registrar or by any shareholder of the company or by any person authorized by the Central Government against the offender in relation to whom the offence is so compounded. (d) Where the composition of any offence is made after the institution of any prosecution, such composition shall be brought by the Registrar in writing, to the notice of the Court in which the prosecution is pending and on such notice of the composition of the offence being given, the company or its officer in relation to whom the offence is so compounded shall be discharged. (4) The Central Government while dealing with a proposal for the compounding of an offence for a default in compliance with any provision of this Act which requires a company or its officer to file or register with, or deliver or send to, the Registrar any return, account or other document, may, direct, by order, if it or he thinks fit to do so, any officer or other employee of the company to file or register wit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... documents annexed therewith and the report of the RoC have been taken into consideration. Further, in passing this order, this Tribunal is also guided by the Judgment of the Hon'ble NCLAT passed in Viavi Solutions India (P.) Ltd. Ors v. Registrar of Companies NCT Delhi in relation to imposing of fine and compounding of an offence. 8. Taking into consideration the yardstick as laid down in the above judgment and since the offence is said to have been committed under the erstwhile provisions of companies Act, 1956 where under it has been held by the Hon'ble Supreme Court that this Tribunal has the power to compound such like offences attendant with such like punishment as in the present one and even if prosecution is pending before Criminal Court and also taking into consideration the change in law on and from 09.02.2018 to Section 441 (1) as brought forth by companies Amendment Act, 2017 (1 of 2018) this Tribunal has the power to compound the offence as brought forth in this application. In relation to the provision above it is seen that the defaulter has made good the default. The punishment for default in complying with the relevant provisions of not filing the Annual ..... X X X X Extracts X X X X X X X X Extracts X X X X
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