M.K. Shrawat, Member - (1.) This Compounding Application was filed before the National Company Law Tribunal, Mumbai Bench on 23rd February, 2017 and the same has been forwarded to the RoC, Mumbai for its report and the said report has been filed to NCLT, Mumbai on 21st March, 2017. The Applicants stated in their application that, the Company was not able to appoint an Independent Director from 31st March, 2015 to 28th January, 2016 and from 31st March, 2015 to 02nd March, 2016 pursuant to Section 149 of the Companies Act, 2013. There is delay of 303 days for appointment of one director and delay of 337 days for appointment of another director. Accordingly, the Company has violated the provisions contained in S. 149 of the Companies Act, 2013.
(2.) Further it is stated that, pursuant to Section 177 of the Companies Act, 2013, the Company was unable to formulate Audit Committee form 31st March, 2015 to 2nd March, 2016. There is delay of 337 days for the Constitution of Audit Committee as per requirement of S. 177 of the Act.
(3.) Further it has been stated that, pursuant to Section 178 of the Companies Act, 2013, the Company was unable to formulate the Nomination and Remuneration Committee from 31st March, 2015 to 2nd March, 2016. There is also delay of 337 days for the Constitution of Nomination and Remuneration Committee.;