Friday, 7 July 2017

NCLT Order - Misrepresentation in BS of the Company

Company wrongly shown issued capital as Rs.84  cr instead of Rs.100 cr. in violation of Sec.211 of CA 1956.  Co. contended that the  default did not cause any prejudice to members, creditors and no harm was caused to public interest.  NCLT however refused to  compound the offence:

http://nclt.c2k.in/OtherNCLT/Publication/Hyderabad_Bench/2017/Other/JellaJaganN.pdf

With Regards
Prakash Verma