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TMI Blog2018 (4) TMI 1815X X X X Extracts X X X X X X X X Extracts X X X X ..... ivate limited companies for a period of 272 days - As per section 165(6) of the Act, punishment for violation of provisions of section 165(1) read with section 165(3) of the Companies Act is fine which shall not be less than ₹ 5,000/- but which may extend to ₹ 25,000/- for every day after the first during which the contravention continues. It is seen from the bare perusal of the facts that on 31.03.2015, the offender director vacated office of the directorship of the company I.e. Fabius Private Ltd. However, his resignation was forwarded to Registrar of Companies on 10.02.2016. It appears to us that the delay was caused in onward transmission of the resignation to ROC, this is a proper and adequate ground for us to consider ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tted the guilt and sent representation to the Registrar with a request to compound an offence as provided under section 441(1) of the Companies Act. The said proposal is forwarded to this Tribunal for consideration. We perused the records. We heard the Ld. Advocate Mr. Bijay Agarwal, appearing for the offender/director at length. The offender/director admitted his guilt stating in clear terms that he was holding the post as the Director in more than 20 private limited companies at once. In fact, he ought to have tendered resignation at least one of the companies on or before 31.03.2015 but he did not. The punishment provided for violation of provisions of section 165(1) read with 165(3) of the Companies Act is provided under sub-se ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ender/director prayed for leniency on the ground that it was his first offence. We considered his submission. It is seen from the bare perusal of the facts that on 31.03.2015, the offender director vacated office of the directorship of the company I.e. Fabius Private Ltd. However, his resignation was forwarded to Registrar of Companies on 10.02.2016. It appears to us that the delay was caused in onward transmission of the resignation to ROC, We hold that this is a proper and adequate ground for us to consider prayer of leniency in directing to pay compounding fees. In view of all the above facts, we pass the following order: ORDER The offence under section 165(1) read with 165(3) punishable under section 165(6) of the Compan ..... X X X X Extracts X X X X X X X X Extracts X X X X
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