IN RE Vs. UTTRAKHAND PARVATIYA AAJEEVIKA SANVARDHAN COMPANY

JUDGEMENT

(1.) Thc Present Application is filed before this Bench of NCLT by the Applicant company UTTARAKIIAND PARVATIYA AAJEEVIKA SANVERDHAN COMPANY along with its Directors namely Mr. S. Raju (Director) , Mr. Y.K. Pant (Managing Director) Mr. A.K Rajput (Director) seeking for compounding of alleged offence for violation of Sections 96 and 99 of the Companies Act, 2013, therefore the petitioner prays for an appropriate relief under Section 441 for not holding of Annual General Meeting (AGM) of the Company in due time and to regularise the same by compounding the alleged violation of above stated provision of the Companies Act.

(2.) The averments of the present Company Petition in brief are stated as under; [.The Applieant No.l, UTTARAKHAND PARVAT1YA AAJEEV1KA SANVERDIIAN COMPANY (hereinafter referred as "the Company" for the sake of brevity) was incorporated as a Non-profit eompany under Section 25 of Companies Act 1956 (previous company act) on 29/03/2006, in the State of Uttarakhand having its registered office Uttarakhand shiip emporium near IT Park Sahastradhara Road, Dehradun 248013. II.The petitioner nos.l, 2 and 3 all are Government officials and in addition their regular official duty they also serve the society through this Company. III.The Petitioner Company is primarily engaged in upliftment of the weaker section of society through generation of self-employment, primarily development of agriculture sector in Uttarakhand and it is assisting and Implementing the project aided by international funds for Agriculture Development (IFAD) . All of its directors are nominated by the Uttarakhand State Government; who are mainly IAS officers. They are given some additional responsibility to run of the company on behalf of Uttarakhand State Government and manage its affair.

(3.) The Petitioner company is a company limited by guarantee and thus having no capital. The company is primarily involved in such activities as mentioned in its Memorandum of Association of company (clause I1IA, point 1,2,3,4,5, and for the sake of convenience the relevant Clause of its Clause IIIA, point 1,2,3,4 are reproduced herein below: tm THE MAIN OBJECTS Of THE COMPANY TO BE B& PVRUED BY THE COMPANY ON ITS INCORPORATION are Without any motive to earn profit to enhance and "improve the livelihood for the poor in the State of Uttarakhand and (a) To increase sustainable income generating cultivation system and establishment of micro and small scale non-farm enterprises. (b) Enable project participation to select livelihood activities most suited to their resources, skills and interest. (c) Address the felt needs and priorities of women and increase their effective participation in local institution and decision making process. (d) Emphasize microfinance, including saving and thrift, and micro insurance product. (e) Increase awareness of the needs to preserve and regenerate natural resources, particularly water, forest and biodiversity, and (f) Implement the project model in a highly participatory and democratic manner.