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Judgment
Particulars,Amount
Net Profit before tax for the year 31.03.2012,447348537
Net Profit before tax for the year 31.03.2013,66016915
Net Profit before tax for the year 31.03.2014,-56891213
TOTAL PROFIT FOR 3 YEARS
( As per section 198 of CA 2013)","45,64,74,239
AVERAGE PROFIT,"15,21,58,080
2% of the Average Profits to be spent in the year
2015.","30,43,161.58
Amount required to be spent on CSR,"30,43,161.58
“Section 134. Financial statement, Board’s report, etc.",
(3) There shall be attached to statements laid before a company in general meeting, a report by its Board of Directors, which shall",
includeâ€",
(o) the details about the policy developed and implemented by the company on corporate social responsibility initiatives taken during the,
year;â€,
“Section 135. Corporate Social Responsibility,
(5)The Board of every company referred to in sub-section (1), shall ensure that the company spends, in every financial year, at least two per",
cent. of the average net profits of the company made during the three immediately preceding financial years, in pursuance of its Corporate",
Social Responsibility Policy:â€,
Punishment,
“Section 134(8): If a company contravenes the provisions of this section, the company shall be punishable with fine which shall not be",
less that fifty thousand rupees but which may extend to twenty-five lakh rupees and every officer of the company who is in default shall be,
punishable with imprisonment for a term which may extend to three years or with fine which shall not be less than fifty thousand rupees.,
It is noticed that the Company had made the default good by opening a Foundation in the name of Anil Arjun Foundation and has also transferred,
an amount of Rs. 30, 43,162/- to the Bank Account of the Trust.",
It is also noticed that the Trust Anil Salgaocar Foundation has donated a sum of Rs. 75,000/- to Dadapir G. Chauri Trust for Handicapped. The",
Trust has also donated a sum of Rs. 25, 00,000/- to Bahujan Hitay for Construction of Girls Hostel in Mapusa, Goa. The said receipts of proof are on",
record.,
On examination of the circumstances as discussed above and after considering the submissions made, a Compounding Fee of Rs. 50,000/-",
(Rupees Fifty Thousand only) by the Company and Rs. 50,000/- (Rupees Fifty Thousand each only) by the 2 Directors herein i.e. Rs 1,50,000/- in total",
(Rupees One Lakh Fifty Thousand only) shall be sufficient as a deterrent for not repeating the impugned default in future. The imposed remittance,
shall be paid by way of Demand Draft drawn in favour of “RoC Mumbai†within 30 days from the receipt of this order.,
This Compounding Application bearing CP No. 2357/441/MB/C-II/ 2018 is, therefore, disposed of on the terms directed above. Needless to",
mention the offence shall stand compounded subject to the remittance of the Compounding Fee imposed. A compliance report, therefore, shall be",
placed on record. Thereafter the Ld. RoC shall take the consequential action.,
Ordered accordingly. To be consigned to Records.,