1980 Supreme(MP) 231

J. S. Verma. J.
P. M. Agrawal v. Registrar of Companies, M. P.
Company Pet. No. 1 of 1976 (J); Decided on 29-8-1980.

Headnote:Companies Act, 1956-S.551, Companies (Courts) Rules, 1959-R.327 (2)-delay in filing of returns under S. 551-whether may be condoned on sufficient cause being shown under R. 327 (2).

       The petitioner was appointed liquidator of a Company viz Speedrum Rubber and Tyres Private Limited without any remuneration. There was delay in filing the liquidators statements under section 551 since the same were not filed within the time specified in Subd`rule (1) of Rule 327 of the Companies (Court) Rules, 1959. Accordingly this application has been made for condo nation of delay under Subd`rule (2) of Rule 327.

       Held: In the application re4sons have been given by the petitioner to explain the delay in fling these statements. The statement for the period mentioned in the application namely 21-1-73 to 22-1-74, 23-1-74 to 22-7-74, 23-7-74 to 22-1-75 and 23-1-75 to 22-7-75 were all filed duly completed in all respects on ]-12-75 with the Registrar of Companies, Madhya Pradesh Gwalior. The reasons giving to explain the delay in filing these statements are such that a case is made out for condo nation of the delay in filing these returns. The delay is accordingly condoned and the time for filing these returns is extended under Subd`rule (2) of Rule 327 of the Companies (Court) Rules, 1959. Application allowed.