Vimal Nanda & Anr Vs Registrar of Companies NCT o f Delhi & Haryana (Delhi High Court)
Delhi High Court held that fine imposed for non-furnishing of financial documents on directors of the company is justifiable, however, compounding fine amount reduced from Rs. 1.50 Lakhs to Rs. 1 Lakhs due to severe financial difficulty faced by the directors.
Facts- Application under Section 528 of Bhartiya Nagrik Suraksha Sanhita, 2023 read with Section 482 of the Code of Criminal Procedure, 1973 (Cr.P.C.) has been filed on behalf of the Petitioners, seeking waiver of cost imposed vide Order dated 20.02.2025.
It is pertinent to observed that the offence committed is of not submitting the Balance Sheet, Profit & Loss Account and Annual Returns, which is essentially a crime committed by the Company on which the fine of Rs.1,50,000/- has already been imposed. The two Directors had been made liable being the Officers-in-charge and responsible for the affairs of the Company.
It has been submitted that both the Petitioners are senior citizens living in rented house, going through financial crunch and having hardship and severe financial difficulty, which is making it difficult for them to pay the hefty amount as penalty for the offence for which they were not responsible in the first instance.
