Delhi Adjudication Order for the violation of Section 92 & 137 of CA 2013 in the matter of ASTRO AUTO ANCILLARIES PRIVATE LIMITED dated 25 Feb 2022

👉The company could not file its AOC 4 (Financial Statements) and eform MGT 7 (Annual Return) for the financial year ended on 31st March 2020 as its Annual General Meeting could not be held in time.

👉That after holding the Annual General Meeting on 6th September, 2021, the company has filed its due documents viz. eform MGT 7A (Annual Return) & eform AOC-4 (Financial Statement) for the Financial Year ended 31st March, 2020 and thus made good the default.

👉 As per Companies (Amendment) Act 2020 the following proviso has been added to sub section (3) of section 454:

“Provided that in case the default relates to non-compliance of sub-section (4) of section 92 or sub-section (1) or sub-section (2) of section 137 and such default has been rectified either prior to, or within thirty days of, the issue of the notice by the adjudicating officer, no penalty shall be imposed in this regard and all proceedings under this section in respect of such default shall be deemed to be concluded”

On account of the above amendment since the company has already rectified its default u/s 92 as well as u/s 137 of the Act, before the notice, the penalty proceeding would be deemed to have been concluded.

This matter is accordingly disposed off.