IN THE HIGH COURT OF JUDICATURE AT PATNA Cr.Misc. No.5745 of 2008 1. Kanhaiya Lal Darek, S/O Late Sita Ram Darek, resident of 111, Bajaj Nariman Point, Mumbai. 2. Bimal Kumar Nopany, S/O Late Mohan Lal Nopany, resident of 12, Govt. Place , East Calcutta- 700069. 3. Laxmikant Tibrewal, S/O Late Ram Chandra Tibrewal, resident of 216, A.J.C. Bose Road, Kolkata (West Bengal)............Petitioners. Versus 1. The State of Bihar. 2. The Registrar of Companies, Bihar & Jharkhand having its office, Maurya Lok Complex, 4th Floor ‘A’ Block, Dak Bunglow Road, Patna-800001.......................................................Opposite parties. ----------- For the petitioners: Mr. Ajay Prasad, Advocate. For O.P. No.2: Mr. S. K. Sharma, Advocate. ---------- 4. 07.05.2010. Heard learned counsel for the petitioners and opposite party no.2. Learned counsel for the petitioners has filed a supplementary affidavit to the effect that after the order dated 08.10.2004 the matter has not progressed further before the learned court below. Learned counsel for the petitioners has submitted that the compliant petition was filed with delay and the petitioners were not heard and without hearing them the limitation was condoned. The second submission of the learned counsel for the petitioners is that for the offence under Section 220(3), the penalty is prescribed under Section 162(1) of the Companies Act which was previously 50/-Rs. 2 per day whereas now it has become Rs. 500/- per day. The present proceeding relates to the assessment year 2003 whereas the amendment in Section 162 of the Companies Act came into force with effect from 13.12.2000 by which the fine of Rs. 50/- per day has been substituted by Rs. 500/- per day. Learned counsel for the petitioners has contended that they have deposited the fine for entire period of delay in filing of the return at the rate of 50/- rupees per day. Learned counsel for the opposite party no.2 has submitted that there is delay of 402 days. Hence the petitioners supposed to deposit the fine for 402 days at the rate of 500/-Rupess per day. The petitioners undertake to deposit the fine at the rate of 500/-ruypes per day for 402 days within a period of 45 days. It is made clear that the fine amount already deposited by the petitioners at the rate of Rs. 50/- per month will be deducted when fresh calculation will be made. Within two weeks from the date of production of a copy of this order the opposite party no.2 will supply the fresh 3 calculation of fine at the rate of Rs. 500/- per day for 402 days as claimed by the opposite party no.2 deducting the amount already deposited by the petitioners and two weeks thereafter the petitioners will deposit the arrears. The order dated 08.10.2004 passed by the Special Judge, Economic Offence under Section 220(B) of the Companies Act in complaint case no. 273(C ) of 2004 is hereby quashed subject to deposit of the entire amount as discussed above within the stipulated period. U.K. (Dinesh Kumar Singh,J)