# In the matter of Simmons Bedding & Furniture (india) Private Limited

> NCLT judgment dated 2024-09-03. Citation: TCN-2024-NCLT-00687. The case pertains to CP (IB) No. 163/Chd/Hry/2022 before the National Company Law Tribunal,…

- **Court:** NCLT
- **Order date:** 3 Sept 2024
- **Citation:** TCN-2024-NCLT-00687
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/simmons-bedding-furniture-india-private-limited-4db42e0f

## Summary

### Background

The case pertains to CP (IB) No. 163/Chd/Hry/2022 before the National Company Law Tribunal, Chandigarh. The petitioner has not filed the balance sheet and annual return for the period 01.01.2021 to 28.11.2021 as per MCA-21. The affidavit has been filed vide diary No.01096/8 dated 08.05.2024. The balance sheet and annual return have been filed late, incurring potential penalties under the Companies Act, 2013.

## Facts

Simmons Bedding & Furniture (India) Pvt. Ltd. is involved in a case before the NCLT Chandigarh. The company, as the petitioner, failed to file its balance sheet and annual return for the period 01.01.2021 to 28.11.2021, as required under MCA-21. An affidavit was filed on 08.05.2024, indicating late filing. This late filing may attract penalties under the Companies Act, 2013. The court has directed the petitioner to file a no dues certificate from the RoC. The IBBI report is currently not on record. The next hearing date needs to be communicated to IBBI/RoC by the petitioner's counsel.

## Issues and analysis

### Issue 1: Whether the petitioner is liable for penalties due to the late filing of the balance sheet and …

**Ratio:** Companies are required to file their balance sheets and annual returns within the

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**Reasoning:** The court noted that the balance sheet and annual return were filed late, and penalties

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**Interpretation:** The Companies Act, 2013 mandates timely filing of financial statements and

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**Application:** Since Simmons Bedding & Furniture (India) Pvt. Ltd. filed its balance sheet

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## Parties

- **Judges:** SHRI. UMESH KUMAR…; SHRI. HARNAM…
- **Respondents:** Simmons Bedding &…

## Timeline

- **2021-01-01 — Period for No…**: Start date of the period for which the balance…
- **2021-11-28 — Period for No…**: End date of the period for which the balance…

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