- (1.) Applicants/Defaulters Herein: 1) The Maharashtra Executor and Trustee Company Private Limited - Company. 2) Mrs. Madhuri Jayant Kulkami - Manager 3) Mr. Ramesh Jagtap - Manager Section Violated: S. 211 (3A) and (3B) and S. 217 (2AA) of the Companies Act, 1956. Punishment Provided Under: S. 217 (5) of the Companies Act, 1956. This Compounding Application was filed by "The Maharashtra Executor and Trustee Company Private Limited" (hereinafter as Company) before the Registrar of Companies, Pune (hereinafter as RoC) on 4th July, 2016 and the same has been forwarded to the NCLT, Mumbai on 8th August, 2016 alongwith the Report of the RoC.
(2.) The Learned RoC has informed vide its two Reports dated 5lh August, 2017 and 6th October, 2017 bearing nos. ROCP/STA/621 A/2016/4915 AND ROCP/STA/621 A/2016/5721 that, this application was filed because the Company has violated the provisions of S. 211 (3A) and (3B) and S. 217 (2AA) of the Companies Act, 1956 (hereinafter as Act) where the Company, in the Balance Sheet and Profit and Loss Account, fails to complied with the Accounting Standards and further there is no disclosure regards to such noncompliance as per provisions of S. 211 (3B) of the Act r.w. AS-3, AS-15, AS-18 and AS-20. Further the Company fails to give Director Responsibility Statement in Board's Report as per the provisions of S. 217 (2AA) of the Act. The default has been committed during the F. Y. 2011-2012, F. Y. 2012-2013 andF. Y. 2013-2014.
(3.) The Learned RoC also in its another report, dated 13lh October, 2017 bearing No. ROCP/STA7621A/15/8937. reported that, the Company has made the said default good in the Balance Sheet as at 31st March, 2016 by giving disclosures as per the said provisions of the Act. Submissions:;