NCLT Mumbai allows compounding application by Kolhapur Hotels Pvt Ltd for failing to hold AGMs from FY 2016-17 due to shareholder death and quorum issues.
Tribunal imposes total compounding fee of ₹40.90 lakh on company and two directors, rejecting argument for reduced penalty under Section 446B.
Registrar of Companies Pune reported this as first offence with maximum potential fine of ₹1.37 crore each for company and directors.
Company must pay fees within 30 days to Ministry of Corporate Affairs through Bharat Kosh to complete compounding process.