Sunil Ambwani, J. - (1.) The date fixed in the matter for 9.3.2007 was wrongly transcribed in the order as 19.3.2007. The case is shown in the cause list and the affidavits have been exchanged. With the consent of parties the order dated 19.2.2007 is corrected, and the matter was heard.
(2.) Heard Sri Chandan Sharma for Registrar of Companies the appellant and Sri Anil Seth along with Sri Jayont Bannerji for the respondent.
(3.) This company-appeal under section 10F of the Companies Act, 1956 is preferred by the Registrar of Companies U.P. and Uttaranchal against the order dated 22.5.2006 passed by the Company Law Board (CLB) by which the Company Law Board compounded the offence committed by respondent No. 1, Kulwant Singh, under sections 62/68 of the Companies Act, 1956 (the Act) and tinder section 628 of the Companies Act, 1956 (the Act). On 3.11.2006 while entertaining the appeal, the cause shown for filing of appeal beyond the period of limitation was treated to be sufficient and the delay in filing the appeal was condoned. Thereafter having recorded prima facie satisfaction that the Company Law Board exceeded its authority and jurisdiction in compounding the offence, the effect and operation of the order was stayed.;