Tuesday, November 15, 2016

Default in holding AGM due to server crash at registered office is compoundable offence

National Comapny Law Tribunal, Bengaluru Bench held that where company stated that due to server crash at registered office in India which was linked to main server in US, applicant company's account could not be finalized and hence, annual general meeting could not be held on time and ROC stated that this violation could be compounded by levying compounding fee, said action was to be approved.

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