RAJAMANNAR C.J.

The learned Advocate-General intimated to us that this appeal against the judgment of RAMASWAMI GOUNDER J. has been filed by the Registrar of Joint Stock Companies, Madras, to obtain a ruling from this court on the correct interpretation of the proviso to Section 131(1) of the Indian Companies Act. The respondent, a limited company, was incorporated on November 1, 1951. Under Section 131(1) of the Act, the directors of every company have, at some date not later than 18 months after the incorporation of the company, to lay before the company in general meeting a balance sheet and profit and loss account. The directors of the respondent company, therefore, had to lay before the general meeting of the company a balance-sheet and the profit and loss account on or before April 30, 1953. For various reasons, with which we are not concerned, the directors were unable to do so. They, therefore, applied to the Registrar to extend by three months the time within which they could do so. The Registrar declined to extend time on the ground that he had no power to grant the extension. Section 131(1) runs thus

"The directors of every company shall at some date not later