IndiaCSR News Network
NEW DELHI: Registrars of Companies have withdrawn the following number of prosecution cases, filed against various companies during the last three years and the current year:
|No. of cases withdrawn||4912||3375||2182||38|
The cases withdrawn relate to defaults in filing of Balance Sheets and Annual Returns for respective years.
Broadly, reasons for withdrawal are:
1. The companies had already made the default good by filing the Balance Sheets and Annual Returns.
2. The companies were found to be defunct/non active for a period of three years and above and continuing with prosecution in such cases would have been futile. Such cases were processed for striking off such companies u/s 560 of the Companies Act, 1956.
3. The companies had compounded offences in terms of section 621A (4) (d) of the Companies Act, 1956.
This was stated by Arun Jaitley, Union Finance Minister in written reply to a question in the Rajya Sabha today.