COMPLIANCE OF THE COMPANIES ACT

The Companies Act, 1956 provides for dissolution of companies either by winding up or through striking off names of defunct companies from the register of companies. A company, which has been dissolved under the Act, ceases to exist and as such is not required to comply with the provisions of the Act. Companies that are found to be not in compliance with the provisions of the Companies Act 1956 are proceeded against under the Act. They are not mandatorily required to wind up or declare closure. Registrar of Companies, Delhi had noticed violation of section 159 and section 220 of the Companies Act, 1956 for non-filing of annual return and balance sheet for the year 2005-06 and 2006-07 by M/s Business India Television International Ltd and prosecution was launched by filing a complaint in the Court of ACMM Delhi. The company has since filed the aforesaid documents for the year in question on 18.12.06 and 18.12.07 respectively. This information was given by the Minister of Corporate Affairs, Shri Prem Chand Gupta in a written reply to a question in Rajya Sabha today.

"Loved reading this piece by veenzar?
Join LAWyersClubIndia's network for daily News Updates, Judgment Summaries, Articles, Forum Threads, Online Law Courses, and MUCH MORE!!"

Join our Telegram group

Join our Whatsapp group