9911796707
TMI Blog2016 (10) TMI 558X X X X Extracts X X X X X X X X Extracts X X X X ..... cticing Company Secretary has further stated that violation is punishable under section 168 of companies Act, 1956. The Practicing Company Secretary further contended a lenient view may be taken as company has subsequently held Annual General Meeting with delay of 57 days. We have looked into the documents filed in support of the Petition. The petitioners relied on the extract of the Board Resolution dated 15/03/2016. The Resolution reads that the Board of Directors agreed to file suo-moto applications for compounding. Petitioners also filed photo-stat copy of statement of Profit & Loss A/c for the year ending 31/03/2014 and also financial statement for the year ending 31/3/2014. We have received report from the Registrar of Companies, B ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a or elsewhere, of providing field engineering support, technical support, marketing support etc., The present activity of the company is engaged in personalized automation and control solutions etc. The authorized share capital of the company is ₹ 5,00,000/- (Rupees Five Lakhs only) divided into 50,000 equity shares of ₹ 10/- each. The issued, subscribed and paid-up share capital of the Company is ₹ 1,00,000/- (Rupees one lakh only) consisting of 10,000 equity shares of ₹ 10/- each. The 1st Applicant is a private limited company and the Applicants 2nd, 3rd and 4th are directors. It is stated that, there was delay in holding the Annual General Meeting of the company due to server crash at registered office i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ken as company has subsequently held Annual General Meeting with delay of 57 days. We have looked into the documents filed in support of the Petition. The petitioners relied on the extract of the Board Resolution dated 15/03/2016. The Resolution reads that the Board of Directors agreed to file suo-moto applications for compounding. Petitioners also filed photo-stat copy of statement of Profit Loss A/c for the year ending 31/03/2014 and also financial statement for the year ending 31/3/2014. We have received report from the Registrar of Companies, Bengaluru who stated that violation can be compounded by levying compounding fee on the Applicants. Considering the submissions made by the Practicing Company Secretary for petitioners and aft ..... X X X X Extracts X X X X X X X X Extracts X X X X
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