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What are the forms to be filed for compounding of offence, in case of Government Company which has not held its AGM for F.Y.2014-15 within prescribed time. Please specify the exact forms (CG-1 or CG-2, RD-1 or RD-2, GNL-1 or GNL-2).

Implementation of new law

Posted By: Vithal kumar pingali 9 year(s) ago

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    Divesh Goyal

GNL-1

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    Divesh Goyal

In case of Application by Company Calling of Board Meeting Company will call the Board Meeting as per Companies Act, 2013 and SS-1. Calculate the amount of offence Board will calculate the amount of the penalty as per the relevant section. Holding of Board Meeting Pass a resolution to file application with authority for compounding of offence and authorize director of the Company and for preparation and signing of documents including application. Company will authorize any professional for follow up the matter with authority. Preparation of Compounding Application Company will prepare the application of compounding (The application is to be made on the lines of the procedure laid down in the CLB Regulations, 1991, duly accompanied by an affidavit by the Company or its officers making the application.)of offence along with the relevant documents. Filling of Form with ROC Procedure for making application: As per sub-section 3(a) of Section 441, every application of compounding of offence shall be made to the Registrar of Companies, who, in turn, shall forward the same along with his comments to the NCLT or RD or any other officers, as may be authorized by the Central Government for the purpose of adjudication. Filing of e-form with ROC Application for compounding shall be submitted electronically in e-form GNL-1. This form will be forwarded by ROC to NCLT/Regional Director as applicable. Hearing before Authority There is no specific provision in the Act, normally, NCLT/Regional Director will give personal hearing and then pass a speaking order giving reasons. The hearing can be attended by Director/secretary/ officer of Company or by authorized representative like advocate or a practicing CA/ CMA/ CA. LEGAL PRECEDENTS Before ordering composition of the offence, the Regional Director or the Company Law Board is required to follow the rules of natural justice, by giving an opportunity of hearing to the company, the officer in-default, the Registrar or any other complainant, including any shareholder or SEBI or an officer of the Central Government who might have been authorized the Act. Order by Authority/ Filling of Order with ROC Where any offence is compounded under this section, whether before or after the institution of any prosecution, intimation thereof shall be given by the Company to the Registrar within 7 days from the date on which the offence is so compounded. Section 441(3)(b) Payment of amount of order by Company After the order, the compounding fees should be paid in appropriate account by way of challan and receipt challan should be produced to one compounding authority.

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