9911796707
TMI Blog1999 (7) TMI 583X X X X Extracts X X X X X X X X Extracts X X X X ..... profit and loss account of the company by 30-10-1997, as required under section 220 of the Companies Act, 1956 ( the Act ) and, therefore, the Registrar of Companies for Gujarat, Dadra and Nagarhaveli lodged complaint against the company and three directors of which present petitioner was shown as accused No. 3, under section 220(3). 4. The petitioner has challenged the said complaint on the ground that it is not maintainable against him. According to the petitioner, at one stage, he was director or the company, but he resigned from the directorship by his letter dated 23-9-1996 with effect from 23-9-1996. The said resignation came to be accepted by the Board of Directors and, accordingly, the company had submitted Form No. 32 indicati ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g at Ahmedabad. He is a Chartered Accountant and, therefore, an inference can be drawn that he must be looking after the affairs of the company at Ahmedabad level, more so in relation to accounts matters and, therefore, he cannot escape from this liability. Mr. S.P. Dave, the learned Additional Public Prosecutor submitted that there is no substance in the petition and may be dismissed. 8. In reply to the argument advanced by Ms. Davawala Dave that Form No. 32 was sent on 21-7-1997, Mr. Pahva has drawn attention to section 303. If section 303 is perused, it casts duty on the company to intimate the change within 30 days of the effect of the change. Sub-section (3) of the said section provides that in the event of default in complying w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oever with the company. 10. Section 220 runs as under : "220. Three copies of balance sheet, etc., to be filed with registrar (1) After the balance sheet and profit and loss account have been laid before a company at an annual general meeting as aforesaid, there shall be filed with the Registrar within thirty days from the date on which the balance sheet and the profit and loss account were so laid, or where the annual general meeting of a company for any year has not been held, there shall be filed with the Registrar within thirty days from the latest day on or before which that meeting should have been held in accordance with the provisions of this Act. ( a )three copies of balance sheet and the profit and loss account, signed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a statement of that fact and of the reasons therefor shall be annexed to the balance sheet and to the copies thereof required to be filed with the Registrar. (3) If default is made in complying with the requirements of sub-section (1) and (2) the Company, every officer of the company who is in default, shall be liable to the like punishment as is provided by section 162 for a default in complying with the provisions of section 159, 160 or 161." A bare perusal of the above section, particularly sub-section (3) indicates that, in default in complying with provisions of sub-section (1) or (2), the company and every officers of the company who is in default would be liable. As such, liability would arise in the instant case only on 30-10-1 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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