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TMI Blog2017 (1) TMI 828X X X X Extracts X X X X X X X X Extracts X X X X ..... racticing Company Secretary for the Applicant and the observations of the Registrar of Companies, we hereby levy the compounding fee on the Applicant as set out in the table. As the compounding fee has been remitted by the Applicants, the offence stated in the petition is compounded. A copy of this Order be sent to Registrar of Companies, Karnataka, Bengaluru for appropriate action. - T.P.NO. 149/2016 IN C.A. NO. 161/621A/CB/2015 - - - Dated:- 15-11-2016 - SHRI RATAKONDA MURALI, J. For The Applicant : Mr. Pradeep B.Kulkarni The Petition was originally Filed before the Company Law Board, Southern Region, Chennai under Section 621A of the Companies Act, 1956 by the Managing Director for the purpose of compounding for violation ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rmaceuticals, nutritional products, bio-pharmaceutical, bio-informatics, medicinal sciences, life sciences and clinical data management; to carry on research and development of new products, new delivery systems, new routes of administrations; to engage in the business of design and development of software and related products for special applications in the field of Biotechnology etc., Details of the objects of the company are mentioned in the Memorandum of Association of the Petitioner Company. According to the averments in the Petition, the Company conducted Extra Ordinary General Meeting on 14th December 2011 to conduct business and one of the items of the Agenda is to issue Bonus Shares of the Company. It is further stated that, the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... use (a) of Sub-section (1) Section 75 of the Companies Act, 1956. Hence, prayed for Compounding the violation with minimum compounding fees. Section 75 (1) (a) reads as follows: Whenever a company having a share capital makes any allotment of its shares, the company shall, within thirty days thereafter: (a) File with the Registrar a return of the allotments, stating the number and nominal amount of the shares comprised in the allotment, the names, addresses and occupations of the allottees, and the amount, if any, paid or due and payable on each share . The penal provisions for the above offence contained in sub-section (4) of the Section 75 of the Companies Act, 1956 which reads as follows:- If default is made in complying ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t in the table given hereunder:- Sl. No. Particulars Violation of section 75 of Companies Act, 1956 No. of days delay Total Rs. 1. Applicant Managing Director 1168 x 200 2,33,600 In pursuant to our Order dated 28/10/2016 mentioned herein above, the Applicant have paid the compounding fee by depositing Demand Draft bearing No. 816873 dated 04/11/2016 for ₹ 2,33,600/- (Rupees Two Lakh Thirty Three thousand Six hundred only) of The Hongkong and Shanghai Banking Corporation, Bangalore drawn in favour of Pay and Accounts Officer, Ministry of Corporate Affairs, payable at Chennai . As ..... X X X X Extracts X X X X X X X X Extracts X X X X
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