IN RE Vs. APC CREDIT RELITY PVT LTD
LAWS(NCLT)-2016-9-26
NATIONAL COMPANY LAW TRIBUNAL
Decided on September 26,2016

IN RE Appellant
VERSUS
APC CREDIT RELITY PVT LTD Respondents

JUDGEMENT

Ina Malhotra, Member - (1.)The petitioner company, which was incorporated on 20.03.2008, has filed the present compounding application u/s. 621A of the Companies Act, 1956 praying for compounding of the offence u/s. 220 of the Companies Act. The said petition which has been routed through the office of the RoC along with their comments, prays for compounding the offence of delaying the filing of Forms 23AC & 23ACA of the AGM with the office of the Registrar of Companies within 30 days of holding AGM as per statutory requirements. The AGM was held on 30.09.2013, while the company filed its financial statements on 21.11.2015, delaying the compliance by 750 days.
(2.)As per the provision of Section 220 of the Companies Act, 1956:
"After the balance sheet and the profit and loss account have been laid before a company at an annual general meeting as aforesaid, there shall be filed with the Registrar within thirty days from the date on which the balance sheet and the profit, and loss account were so laid, or where the annual general meeting of a company for any year has not been held, there shall be filed with the Registrar within thirty days from the latest day on or before which that meeting should have been held in accordance with the provisions."

(3.)It is submitted by the petitioners that due to lack of legal expertise/advice regarding regular compliances of various laws, they could not comply with the provision of above said sections on time. It is also submitted that the offence is not of such a nature that would prejudice the interest of members, creditors or others dealing with the company, nor did it affect public interest.
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