Dear Professionals,
A Private limited company where there are only 2 directors and no any other stakeholders are interested in company had not conducted AGM since last 2 years due to some unavoidable circumstances. As per companies act 2013 this is compounding offense and penalty is 2500 per day and 50000 per officer.So my question is since public is not interested in the company whether still directors are liable for above penalty.is there any provision of waive off of penalty under CA act 1956 or 2013.if yes what is the procedure for the same.
CAclubindia
