- (1.) Applicants in Default: - 1. Mr. Arbind Jayaswal - Managing Director 2. Mr. Ramesh Jayaswal - Joint Managing Director 3. Mr. Avinash Dinakar Karajgaonkar - Company Secretary Section Violated:- Section 211 of the Companies Act, 1956. Nature of Violation: - As per the submission made in the Report of Registrar of Companies, Mumbai and from the submissions made in the Compounding Application, it is observed that inspection of books of accounts and other records etc. of the Company under Sec 209A of the Companies Act, 1956 was conducted by the Ministry of Corporate Affairs, Govt of India, New Delhi vide their letter No. 4/8/200/-CL-II dated 04.02.2008. On Inspection, the final confirmation of the balances at the end of 31/03/2005, 31/03/2006 and 31/03/2007 has not been obtained by the Company from sundry debtors, sundry creditors, loans & advances and unsecured loans as required by the provisions of Sec 211 read with Schedule VI of the Companies Act, 1956. Hence the Company has violated the said provisions. The Registrar of Companies, Mumbai forwarded the compounding application vide his letter No. ROC/JTA/621A/16154/195 dated 24.08.2016 and the same has been treated as Company Application No. 14/441/NCLT/MB/MAH/2016.
(2.) We have gone through the application of the applicants and the report submitted by the Registrar of Companies, Mumbai and also the submissions made by Authorised Representative for applicants at the time of hearing and noted that application made by the applicants for compounding of offence committed under Section 211 of the Companies Act, 1956, merited consideration.
(3.) Having regard to the facts and circumstances of the case, the offence committed under Section 211 of the Companies Act, 1956, as stated and explained above in first para is compounded against the Company's two Directors and Company Secretary, on payment of Rs. 5,000/- by each defaulter. The remittance shall be made by way of Demand Draft drawn in favour of "Pay and Accounts Officer, Ministry of Corporate Affairs, Mumbai". Since the Company's two Directors and Company Secretary named above have remitted total amount of Rs. 15,000/- as mentioned below: to the registry of this Bench towards compounding fees, the Registrar of Companies, Mumbai is hereby directed to take further action as provided under Section 621A(3)(c)(d) of the Companies Act, 1956 read with Section 441 (3) (c) (d) of the Companies Act, 2013.;