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Judgment
This is an application on behalf of the Administrator, appointed vide order dated 31.01.2014 of the Company Law Board, Principal Bench, New Delhi. It is, inter alia, stated in the instant application as follows:-
There are recent notifications by the Central Government which has made mandatory undermentioned compliances in the prescribed forms by due dates:
Sr. No
E-Forms
Reference Details
Due Date
1
INC-22A
Section 22A Companies Act 2013
15.06.2019
2
DPT - 3 (Regular)
Rule 16 of Companies (Acceptance of Deposits) Rules, 2014
30.06.2019
DPT-3 (One time)
Rule 16A of Companies (Acceptance of Deposits) Rules, 2014
29.06.2019
3
DIR-3 KYC
Circular dated 12.04.2019
30 days from the deployment of form
4
MSME-1
Order dated 2019 issued under Section 405 of Companies Act, 2013
30.05.2019
In view of the special facts and circumstances when the Board of Directors of the company is under suspension pending the sale of the assets of the company by the Administrator and there is exemption from holding AGMs pending the completion of liquidation, it would be appropriate for the Tribunal to grant the Administrator exemptions from filing the aforesaid e-forms with the company only the audited accounts and annual returns with the RoC and the Income Tax Authorities in physical form. It is prayed that the Hon' ble Tribunal be may please to grant exemptions from:
(ii) From filing Annual Return along with other documents electronically with the Registrar of Companies (ROC) for FY 2015-16 onwards/
(iii) From complying with the notifications by Ministry of Corporate Affairs (MCA) detailed in para 4.
(iv) Any other relief/direction as the Hon' ble Tribunal deems fit in the interest of justice to comply with provision of the Companies Act, 2013.
Vide order dated 31.01.2014 passed by the Company Law Board, Principal Bench, New Delhi, it was directed that the Administrator shall supersede the Board of Directors. Since, the Board of Directors had been superseded, therefore, the consequential effect is that the statutory compliances as mentioned hereinabove, is not possible to be made. Therefore, exemption as prayed for at above is granted.
There is also a prayer for exemption for holding Annual General Meeting for the years 2015-2016, 2017-18 and 2019-20. The same is also allowed.
With these directions, the instant application i.e. CA No. 512/2019 stands disposed of.