K.K.Balu, - (1.) THE above application filed by the applicants under Section 621A of the Companies, Act, 1956 ('the Act') was forwarded to this Bench by the Resgis- trar of Companies,, West Bengal ('the RoC, WB') for composition of the offences as provided under Section 621A(4)(C) of the Act. In the said application, the applicants seek composition of the offence committed by them relating to contravention of Sub- section (1) of Section 211 of the Act which is punishable under Sub-section (7) of Sec- tion 211 of the Act.
(2.) The applicant Nos. 1,2 and 3 being officers is default within the meaning of Sec- tion 5 of the Acts are liable for the contravention. The applicants is their application submitted that they are the erstwhile direc- tors of Natraj Holding (P) Ltd. (NHPL') which has been merged and amalgamated with Sudarshan Exports Limited ('SEL') by an order dated 23.4.1996 passed by High Court at Calcutta, under Sections 391-394 of the Act. Consequent open the amalgama- tion, GFSPL has been dissolved without winding up by the order of High Court at Calcutta passed on 25.6.1997. The applicants are at present no longer directors/ officers of NHPL. The RoC, WB, has filed a petition of compliant under Section 211(7) of the Act, before the Chief Metropolitan Magistrate Calcutta, in March, 1999 against the applicants for violation of Section 211(1) by not drawing the balance sheet as at 31 March, 1995, in the form set out in Part I of Schedule VI. The prosecution is pending before the 3rd court of Metropolitan Magistrate at Calcutta. The applicants have pleaded that due to inadvertence the said balance sheet was not drawn up on the form set out Part I of Schedule VI of the Act and the violation was unintentional and the offence may be compounded.
(3.) THE RoC, WB, while forwarding his report on the compounding application submitted the facts that led the issue of show cause notice to the officers in default and subsequent launching of prosecution against them. THE RoC, WB, has no object- tion to the offence compounded against the applicants.;