New Delhi, Apr 15 (UNI) Companies found to be not in compliance with the provisions of the Companies Act 1956 are proceeded against under the Act but they are not mandatorily required to wind up or declare closure, Minister for Corporate Affairs Prem Chand Gupta today said.
In a written reply in the Rajya Sabha, The minister said the Registrar of Companies, Delhi had noticed violation of sections 159 and 220 of the Companies Act, 1956 for non-filing of annual return and balance sheet for 2005-06 and 2006-07 by M/s Business India Television International Ltd and prosecution was launched by filing a complaint in the court of ACMM Delhi.
The company had filed the required documents on December 18, 2006 and December 18, 2007 respectively.
"The Companies Act, 1956 provides for dissolution of companies either by winding up or through striking off names of defunct companies from the register of companies. A company, which has been dissolved under the Act, ceases to exist and as such is not required to comply with the provisions of the Act," he clarified.
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